Azul (NYSE:AZUL) Hits New 52-Week Low at $5.16

Shares of Azul S.A. (NYSE:AZUL) reached a new 52-week low during trading on Thursday . The stock traded as low as $5.16 and last traded at $5.30, with a volume of 1088405 shares traded. The stock had previously closed at $5.59.

Analyst Ratings Changes

A number of equities analysts have weighed in on AZUL shares. Barclays decreased their price target on shares of Azul from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Monday, April 1st. Bank of America reiterated an “underperform” rating and issued a $9.50 price target (down previously from $18.00) on shares of Azul in a report on Thursday, April 18th. Finally, Raymond James reiterated an “outperform” rating and issued a $12.00 price target (down previously from $13.00) on shares of Azul in a report on Monday, April 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Azul presently has a consensus rating of “Moderate Buy” and an average target price of $12.26.

Azul Stock Performance

The company has a market cap of $2.39 billion, a price-to-earnings ratio of -6.11 and a beta of 1.85. The stock’s fifty day simple moving average is $7.33 and its two-hundred day simple moving average is $8.33.

Azul (NYSE:AZUL) last posted its earnings results on Thursday, March 28th. The company reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.25). The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Analysts predict that Azul S.A. will post -0.75 EPS for the current fiscal year.

Hedge Funds Weigh In On Azul

Hedge funds and other institutional investors have recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of Azul by 66.7% during the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company’s stock valued at $42,000 after acquiring an additional 2,000 shares in the last quarter. Coronation Fund Managers Ltd. acquired a new position in shares of Azul during the 3rd quarter valued at $158,000. AXQ Capital LP acquired a new position in shares of Azul during the 3rd quarter valued at $205,000. Aigen Investment Management LP acquired a new position in Azul in the 4th quarter worth $214,000. Finally, Privium Fund Management UK Ltd acquired a new position in Azul in the 3rd quarter worth $341,000. Institutional investors and hedge funds own 0.82% of the company’s stock.

About Azul

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.