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

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

Analyst Ratings Changes

Several analysts recently commented on the stock. 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 report on Thursday, April 18th. Barclays reduced their target price on shares of Azul from $14.00 to $12.00 and set an “equal weight” rating for the company in a report on Monday, April 1st. Finally, Raymond James reaffirmed an “outperform” rating and set a $12.00 target price (down previously from $13.00) on shares of Azul in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.26.

Azul Stock Performance

The stock’s fifty day moving average price is $7.37 and its two-hundred day moving average price is $8.35. The company has a market cap of $2.26 billion, a P/E ratio of -5.66 and a beta of 1.85.

Azul (NYSE:AZUL) last issued its quarterly earnings results 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 firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.02 billion. On average, equities research analysts forecast that Azul S.A. will post -0.75 EPS for the current year.

Hedge Funds Weigh In On Azul

Institutional investors have recently added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. lifted its stake in shares of 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 buying an additional 2,000 shares in the last quarter. Coronation Fund Managers Ltd. bought a new position in shares of Azul in the third quarter valued at $158,000. AXQ Capital LP bought a new position in shares of Azul in the third quarter valued at $205,000. Aigen Investment Management LP bought a new position in shares of Azul in the fourth quarter valued at $214,000. Finally, Privium Fund Management UK Ltd bought a new position in shares of Azul in the third quarter valued at $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.