Sendas Distribuidora (NYSE:ASAI) Shares Gap Up – Here’s Why

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $5.40, but opened at $5.69. Sendas Distribuidora shares last traded at $5.70, with a volume of 99,613 shares traded.

Analysts Set New Price Targets

A number of research firms have commented on ASAI. Hsbc Global Res upgraded shares of Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lowered Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective on the stock. in a research note on Monday, September 9th. Finally, Bank of America lowered Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price for the company. in a research note on Friday, September 13th.

Sendas Distribuidora Price Performance

The company has a quick ratio of 0.43, a current ratio of 0.86 and a debt-to-equity ratio of 4.15. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.43 and a beta of 0.92. The stock’s 50-day moving average price is $6.23 and its 200-day moving average price is $8.43.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. raised its position in shares of Sendas Distribuidora by 145.6% during the third quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock worth $26,000 after acquiring an additional 2,203 shares during the last quarter. Privium Fund Management B.V. increased its position in Sendas Distribuidora by 26.3% in the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock worth $122,000 after purchasing an additional 2,900 shares during the period. AQR Capital Management LLC raised its holdings in Sendas Distribuidora by 44.4% during the 2nd quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock worth $184,000 after purchasing an additional 6,068 shares during the last quarter. Signaturefd LLC lifted its position in Sendas Distribuidora by 186.4% during the 3rd quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock valued at $69,000 after purchasing an additional 6,567 shares during the period. Finally, SPX Gestao de Recursos Ltda boosted its stake 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 purchasing an additional 9,607 shares during the last quarter. 8.76% of the stock is currently owned by institutional investors.

About Sendas Distribuidora

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.