Azul (NYSE:AZUL) Stock Price Up 7.4%

Azul S.A. (NYSE:AZUL) shares shot up 7.4% during trading on Friday . The company traded as high as $6.46 and last traded at $6.35. 651,084 shares were traded during trading, a decline of 58% from the average session volume of 1,561,485 shares. The stock had previously closed at $5.91.

Wall Street Analysts Forecast Growth

AZUL has been the subject of a number of research analyst reports. Bank of America reissued an “underperform” rating and issued a $9.50 target price (down from $18.00) on shares of Azul in a research report on Thursday, April 18th. Raymond James restated an “outperform” rating and set a $12.00 target price (down from $13.00) on shares of Azul in a research report on Monday, April 15th. Finally, Barclays decreased their price target on shares of Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.26.

Azul Stock Up 8.6 %

The stock has a fifty day moving average price of $7.16 and a 200-day moving average price of $8.26. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of -6.90 and a beta of 1.94.

Azul (NYSE:AZUL) last posted its quarterly earnings data on Thursday, March 28th. The company reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.25). The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.02 billion. As a group, research analysts expect that Azul S.A. will post -0.75 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in AZUL. Harel Insurance Investments & Financial Services Ltd. lifted its position in Azul by 66.7% in 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 during the period. Coronation Fund Managers Ltd. lifted its holdings in shares of Azul by 16.0% in the 1st quarter. Coronation Fund Managers Ltd. now owns 24,961 shares of the company’s stock valued at $194,000 after buying an additional 3,450 shares during the period. AXQ Capital LP purchased a new stake in shares of Azul in the third quarter valued at approximately $205,000. Aigen Investment Management LP acquired a new position in Azul during the fourth quarter worth $214,000. Finally, Privium Fund Management UK Ltd acquired a new position in Azul during the third quarter worth $341,000. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.