Azul (NYSE:AZUL) Shares Gap Down to $6.05

Azul S.A. (NYSE:AZUL) shares gapped down before the market opened on Thursday . The stock had previously closed at $6.05, but opened at $5.77. Azul shares last traded at $5.69, with a volume of 654,621 shares.

Analyst Ratings Changes

Several brokerages have issued reports on AZUL. Barclays lowered their target price on shares of Azul from $14.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Monday, April 1st. Raymond James reaffirmed an “outperform” rating and set a $12.00 target price (down previously from $13.00) on shares of Azul in a research note on Monday, April 15th. Finally, Bank of America reaffirmed an “underperform” rating and set a $9.50 target price (down previously from $18.00) on shares of Azul in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.26.

Azul Stock Performance

The firm’s 50-day moving average price is $7.47 and its two-hundred day moving average price is $8.39. The stock has a market cap of $2.44 billion, a price-to-earnings ratio of -6.21 and a beta of 1.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of AZUL. Advisor Group Holdings Inc. raised its holdings in Azul by 83.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,630 shares of the company’s stock valued at $151,000 after buying an additional 1,200 shares during the period. JPMorgan Chase & Co. purchased a new stake in Azul in the 1st quarter valued at about $3,449,000. Citigroup Inc. raised its holdings in Azul by 10.9% in the 1st quarter. Citigroup Inc. now owns 58,836 shares of the company’s stock valued at $885,000 after buying an additional 5,761 shares during the period. Penserra Capital Management LLC raised its holdings in Azul by 74.0% in the 1st quarter. Penserra Capital Management LLC now owns 8,827 shares of the company’s stock valued at $132,000 after buying an additional 3,753 shares during the period. Finally, Northern Trust Corp raised its holdings in Azul by 52.9% in the 1st quarter. Northern Trust Corp now owns 52,989 shares of the company’s stock valued at $798,000 after buying an additional 18,329 shares during the period. Institutional investors and hedge funds own 0.82% of the company’s stock.

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.