Azul (NYSE:AZUL) Shares Gap Up – Time to Buy?

Shares of Azul S.A. (NYSE:AZUL) gapped up before the market opened on Monday . The stock had previously closed at $1.81, but opened at $1.95. Azul shares last traded at $1.97, with a volume of 311,759 shares traded.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. The Goldman Sachs Group decreased their target price on Azul from $3.60 to $3.10 and set a “neutral” rating on the stock in a research report on Thursday, December 19th. Seaport Res Ptn lowered shares of Azul from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $6.46.

Azul Trading Up 0.5 %

The firm has a market capitalization of $847.36 million, a price-to-earnings ratio of -0.28 and a beta of 1.95. The firm’s 50-day moving average is $2.28 and its 200 day moving average is $3.16.

Institutional Trading of Azul

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Long Focus Capital Management LLC grew its position in shares of Azul by 106.3% in the 2nd quarter. Long Focus Capital Management LLC now owns 4,454,000 shares of the company’s stock valued at $17,816,000 after buying an additional 2,295,000 shares during the last quarter. Perpetual Ltd boosted its holdings in Azul by 4.5% in the third quarter. Perpetual Ltd now owns 2,354,953 shares of the company’s stock valued at $8,101,000 after acquiring an additional 100,639 shares during the last quarter. Marshall Wace LLP increased its position in Azul by 2,466.5% during the 2nd quarter. Marshall Wace LLP now owns 598,670 shares of the company’s stock valued at $2,395,000 after purchasing an additional 575,344 shares during the period. SPX Gestao de Recursos Ltda increased its position in Azul by 13,831.7% during the 2nd quarter. SPX Gestao de Recursos Ltda now owns 292,565 shares of the company’s stock valued at $1,170,000 after purchasing an additional 290,465 shares during the period. Finally, Jane Street Group LLC raised its holdings in Azul by 58.9% during the 3rd quarter. Jane Street Group LLC now owns 203,190 shares of the company’s stock worth $699,000 after purchasing an additional 75,291 shares during the last quarter. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.