Azul (NYSE:AZUL) Shares Down 6.3% – Should You Sell?

Azul S.A. (NYSE:AZUL) traded down 6.3% on Monday . The stock traded as low as $2.25 and last traded at $2.31. 628,885 shares changed hands during mid-day trading, a decline of 51% from the average session volume of 1,291,617 shares. The stock had previously closed at $2.46.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. The Goldman Sachs Group lowered their price target on Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Seaport Res Ptn raised shares of Azul from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.40.

Azul Stock Performance

The stock’s fifty day simple moving average is $2.12 and its two-hundred day simple moving average is $2.88. The company has a market capitalization of $980.15 million, a price-to-earnings ratio of -0.33 and a beta of 1.95.

Institutional Investors Weigh In On Azul

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Trellis Wealth Advisors LLC acquired a new stake in shares of Azul during the fourth quarter valued at approximately $32,000. Creative Planning acquired a new stake in Azul in the third quarter valued at approximately $35,000. Ground Swell Capital LLC bought a new stake in Azul in the third quarter worth approximately $44,000. Sanctuary Advisors LLC acquired a new position in shares of Azul during the 2nd quarter worth $51,000. Finally, Van ECK Associates Corp raised its holdings in Azul by 16.3% during the fourth quarter. Van ECK Associates Corp now owns 63,338 shares of the company’s stock valued at $106,000 after buying an additional 8,899 shares in the last quarter. 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.