Azul (NYSE:AZUL) Shares Gap Up to $6.04

Azul S.A. (NYSE:AZUL) gapped up prior to trading on Wednesday . The stock had previously closed at $6.04, but opened at $6.22. Azul shares last traded at $6.01, with a volume of 1,580,226 shares changing hands.

Analyst Ratings Changes

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

Azul Stock Performance

The firm has a 50 day moving average price of $7.50 and a two-hundred day moving average price of $8.40.

Hedge Funds Weigh In On Azul

Large investors have recently modified their holdings of the stock. UBS Group AG lifted its position in shares of Azul by 930.7% during the second quarter. UBS Group AG now owns 3,628 shares of the company’s stock worth $26,000 after purchasing an additional 3,276 shares during the last quarter. US Bancorp DE lifted its position in shares of Azul by 721.4% during the second quarter. US Bancorp DE now owns 1,922 shares of the company’s stock worth $26,000 after purchasing an additional 1,688 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Azul by 3,578.9% during the third quarter. Tower Research Capital LLC TRC now owns 3,495 shares of the company’s stock worth $30,000 after purchasing an additional 3,400 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Azul by 66.7% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,000 shares of the company’s stock worth $42,000 after purchasing an additional 2,000 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Azul by 18.0% during the second quarter. BNP Paribas Arbitrage SA now owns 9,746 shares of the company’s stock worth $69,000 after purchasing an additional 1,487 shares during the last quarter. Institutional investors 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.