Azul S.A. (NYSE:AZUL) Short Interest Up 5.7% in March

Azul S.A. (NYSE:AZUL) was the target of a large growth in short interest in March. As of March 31st, there was short interest totalling 3,690,000 shares, a growth of 5.7% from the March 15th total of 3,490,000 shares. Based on an average trading volume of 1,370,000 shares, the short-interest ratio is currently 2.7 days.

Azul Stock Performance

Shares of Azul stock traded down $0.03 during trading on Wednesday, reaching $6.01. The company’s stock had a trading volume of 1,619,506 shares, compared to its average volume of 1,499,444. The company has a 50-day moving average price of $7.57 and a two-hundred day moving average price of $8.44. Azul has a fifty-two week low of $5.66 and a fifty-two week high of $13.86.

Analyst Upgrades and Downgrades

AZUL has been the subject of a number of research analyst reports. Raymond James reaffirmed an “outperform” rating and issued a $12.00 price target (down from $13.00) on shares of Azul in a report on Monday. Barclays decreased their price objective 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. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Azul has an average rating of “Moderate Buy” and an average target price of $12.56.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of AZUL. Frontier Capital Management Co. LLC increased its holdings in shares of Azul by 296.8% in the first quarter. Frontier Capital Management Co. LLC now owns 4,384,995 shares of the company’s stock valued at $31,353,000 after purchasing an additional 3,280,010 shares during the period. Schonfeld Strategic Advisors LLC raised its position in Azul by 551.9% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 2,339,760 shares of the company’s stock worth $14,296,000 after buying an additional 1,980,852 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Azul by 293.1% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 1,040,666 shares of the company’s stock worth $7,441,000 after acquiring an additional 775,936 shares during the period. Millennium Management LLC boosted its holdings in shares of Azul by 269.5% in the second quarter. Millennium Management LLC now owns 817,199 shares of the company’s stock valued at $5,802,000 after acquiring an additional 596,022 shares in the last quarter. Finally, Canada Pension Plan Investment Board acquired a new stake in Azul in the third quarter valued at about $4,712,000. 0.82% of the stock is currently owned by institutional investors and hedge funds.

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.