Azul (NYSE:AZUL) Trading Up 7.3% – Still a Buy?

Azul S.A. (NYSE:AZUL)’s stock price shot up 7.3% during trading on Wednesday . The company traded as high as $2.45 and last traded at $2.44. 445,578 shares were traded during mid-day trading, a decline of 65% from the average session volume of 1,257,624 shares. The stock had previously closed at $2.27.

Wall Street Analyst Weigh In

AZUL has been the topic of several research reports. The Goldman Sachs Group lowered their price objective on shares of Azul from $3.10 to $2.70 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Seaport Res Ptn raised 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 assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.40.

Azul Price Performance

The business’s 50-day simple moving average is $2.12 and its 200-day simple moving average is $2.93.

Hedge Funds Weigh In On Azul

Several hedge funds have recently made changes to their positions in the business. Creative Planning bought a new position in Azul in the 3rd quarter worth $35,000. Ground Swell Capital LLC purchased a new stake in Azul in the third quarter worth about $44,000. Sanctuary Advisors LLC purchased a new stake in Azul in the second quarter worth $51,000. Van ECK Associates Corp lifted its position 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 during the period. Finally, Inspire Advisors LLC boosted its holdings in shares of Azul by 84.0% during the 3rd quarter. Inspire Advisors LLC now owns 41,324 shares of the company’s stock valued at $142,000 after buying an additional 18,861 shares in the last quarter. 0.82% of the stock is owned by hedge funds and other institutional investors.

About Azul

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.