Azul (NYSE:AZUL) Stock Price Down 6.9%

Shares of Azul S.A. (NYSE:AZUL) were down 6.9% during trading on Wednesday . The stock traded as low as $7.64 and last traded at $7.67. Approximately 751,481 shares were traded during trading, a decline of 45% from the average daily volume of 1,362,161 shares. The stock had previously closed at $8.24.

Analyst Upgrades and Downgrades

Separately, Barclays dropped their price target on shares of Azul from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.76.

Azul Stock Down 8.6 %

The company has a market cap of $3.17 billion, a price-to-earnings ratio of -8.25 and a beta of 1.85. The company’s 50-day moving average is $7.70 and its 200 day moving average is $8.49.

Hedge Funds Weigh In On Azul

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. lifted its holdings in Azul by 83.9% during the first quarter. Advisor Group Holdings Inc. now owns 2,630 shares of the company’s stock valued at $151,000 after purchasing an additional 1,200 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Azul by 18.0% during the second quarter. BNP Paribas Arbitrage SA now owns 9,746 shares of the company’s stock valued at $69,000 after purchasing an additional 1,487 shares in the last quarter. US Bancorp DE lifted its holdings in Azul by 721.4% during the second quarter. US Bancorp DE now owns 1,922 shares of the company’s stock valued at $26,000 after purchasing an additional 1,688 shares in the last quarter. BlackRock Inc. lifted its holdings in Azul by 9.0% during the second quarter. BlackRock Inc. now owns 23,570 shares of the company’s stock valued at $323,000 after purchasing an additional 1,941 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in Azul by 66.7% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company’s stock valued at $42,000 after purchasing an additional 2,000 shares in the last quarter. 0.82% of the stock is owned by hedge funds and other institutional investors.

Azul Company Profile

Azul SA, together with its subsidiaries, provides scheduled air transportation services in Brazil. As of December 31, 2022, the company operated approximately 1,000 daily departures to 158 destinations through a network of 300 non-stop routes with an operating fleet of 177 aircraft and a passenger contractual fleet of 194 aircraft.