BBB Foods (NYSE:TBBB) Shares Gap Down – What’s Next?

Shares of BBB Foods Inc. (NYSE:TBBB) gapped down before the market opened on Tuesday . The stock had previously closed at $34.16, but opened at $32.14. BBB Foods shares last traded at $31.88, with a volume of 50,971 shares trading hands.

Analyst Ratings Changes

A number of research firms have weighed in on TBBB. Jefferies Financial Group initiated coverage on shares of BBB Foods in a research note on Monday, September 9th. They set a “hold” rating and a $33.00 price objective for the company. HSBC raised shares of BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 price target for the company in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their price objective on BBB Foods from $30.00 to $34.00 and gave the company an “overweight” rating in a research report on Wednesday, August 7th. Finally, Hsbc Global Res raised BBB Foods from a “strong sell” rating to a “hold” rating in a report on Friday, August 23rd. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, BBB Foods has an average rating of “Hold” and an average target price of $30.57.

BBB Foods Stock Performance

The company has a debt-to-equity ratio of 1.85, a current ratio of 0.79 and a quick ratio of 0.54. The company’s fifty day moving average is $32.05 and its 200-day moving average is $28.37.

Hedge Funds Weigh In On BBB Foods

Institutional investors and hedge funds have recently modified their holdings of the company. J.Safra Asset Management Corp increased its position in BBB Foods by 153.3% during the second quarter. J.Safra Asset Management Corp now owns 3,369 shares of the company’s stock valued at $80,000 after acquiring an additional 2,039 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of BBB Foods during the 2nd quarter valued at about $103,000. Hood River Capital Management LLC increased its position in shares of BBB Foods by 118.5% during the 2nd quarter. Hood River Capital Management LLC now owns 4,958 shares of the company’s stock valued at $119,000 after purchasing an additional 2,689 shares during the last quarter. Federated Hermes Inc. bought a new position in shares of BBB Foods in the 2nd quarter worth approximately $143,000. Finally, Quent Capital LLC bought a new stake in BBB Foods during the second quarter valued at approximately $167,000. 8.42% of the stock is currently owned by hedge funds and other institutional investors.

About BBB Foods

BBB Foods Inc, through its subsidiaries, operates a chain of grocery retail stores in Mexico. It offers household cleaning, personal hyenine, cosmetics and beauty, pharmacy, and general merchandise products, as well as jellies and desserts, foods and drinks, pet supplies, coffee, tea, chocolates, breads, dry and frozen foods, snacks and sweets, and toilet papers and napkins.