Azul (NYSE:AZUL) Trading 9.8% Higher – Here’s What Happened

Azul S.A. (NYSE:AZUL)’s stock price rose 9.8% during trading on Monday . The company traded as high as $2.82 and last traded at $2.80. Approximately 2,654,271 shares changed hands during trading, an increase of 36% from the average daily volume of 1,956,196 shares. The stock had previously closed at $2.55.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AZUL. Deutsche Bank Aktiengesellschaft dropped their price target on Azul from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Seaport Res Ptn cut Azul from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 10th. Hsbc Global Res upgraded shares of Azul to a “hold” rating in a report on Thursday, September 5th. Barclays lowered their price target on shares of Azul from $10.00 to $4.50 and set an “equal weight” rating for the company in a report on Monday, August 19th. Finally, The Goldman Sachs Group downgraded shares of Azul from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $6.70 to $4.00 in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.59.

Azul Trading Down 4.0 %

The company has a market cap of $1.10 billion, a price-to-earnings ratio of -0.37 and a beta of 1.99. The stock’s 50 day moving average price is $2.96 and its 200 day moving average price is $3.89.

Hedge Funds Weigh In On Azul

Hedge funds have recently made changes to their positions in the stock. Coronation Fund Managers Ltd. lifted its stake in shares of Azul by 9.5% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 27,341 shares of the company’s stock valued at $109,000 after purchasing an additional 2,380 shares in the last quarter. Signaturefd LLC raised its holdings in Azul by 35.9% in the second quarter. Signaturefd LLC now owns 10,649 shares of the company’s stock valued at $43,000 after buying an additional 2,812 shares during the period. Inspire Advisors LLC lifted its position in Azul by 20.1% during the second quarter. Inspire Advisors LLC now owns 22,463 shares of the company’s stock valued at $90,000 after buying an additional 3,764 shares in the last quarter. Creative Planning purchased a new stake in Azul during the third quarter worth approximately $35,000. Finally, Ground Swell Capital LLC acquired a new stake in shares of Azul in the third quarter worth $44,000. Institutional investors and hedge funds own 0.82% of the company’s stock.

Azul Company Profile

Azul SA, together with its subsidiaries, provides air transportation services in Brazil and internationally. As of December 31, 2023, the company operated approximately 1,000 daily departures to 160 destinations through a network of 300 non-stop routes with an operating fleet of 183 aircraft and a passenger contractual fleet of 189 aircraft.