Sendas Distribuidora (NYSE:ASAI) Shares Down 5.3% – Should You Sell?

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price traded down 5.3% during trading on Wednesday . The stock traded as low as $6.33 and last traded at $6.39. 233,633 shares were traded during trading, a decline of 40% from the average session volume of 391,879 shares. The stock had previously closed at $6.75.

Analysts Set New Price Targets

ASAI has been the subject of a number of recent research reports. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America downgraded Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price target on the stock. in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. downgraded Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target on the stock. in a research note on Monday, September 9th.

Sendas Distribuidora Stock Performance

The stock has a 50 day moving average price of $6.49 and a two-hundred day moving average price of $8.77. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 4.15. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 0.51 and a beta of 1.03.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ASAI. Blue Trust Inc. increased its position in shares of Sendas Distribuidora by 145.6% in the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after buying an additional 2,203 shares in the last quarter. Privium Fund Management B.V. increased its position in shares of Sendas Distribuidora by 26.3% in the 2nd quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after buying an additional 2,900 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Sendas Distribuidora by 44.4% in the 2nd quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock valued at $184,000 after buying an additional 6,068 shares in the last quarter. Signaturefd LLC increased its position in shares of Sendas Distribuidora by 186.4% in the 3rd quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock valued at $69,000 after buying an additional 6,567 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda increased its position in shares of Sendas Distribuidora by 13.3% in the 2nd quarter. SPX Gestao de Recursos Ltda now owns 81,733 shares of the company’s stock valued at $760,000 after buying an additional 9,607 shares in the last quarter. Institutional investors and hedge funds own 8.76% of the company’s stock.

Sendas Distribuidora Company Profile

Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. The company serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.