Sendas Distribuidora (NYSE:ASAI) Shares Gap Down – What’s Next?

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) gapped down before the market opened on Wednesday . The stock had previously closed at $4.58, but opened at $4.32. Sendas Distribuidora shares last traded at $4.37, with a volume of 93,456 shares.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Bank of America cut shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price for the company. in a report on Friday, September 13th. 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 report on Monday, September 9th. Finally, Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th.

Sendas Distribuidora Trading Down 6.6 %

The business’s 50-day moving average price is $6.02 and its 200-day moving average price is $8.00. The firm has a market capitalization of $1.16 billion, a PE ratio of 9.95, a price-to-earnings-growth ratio of 0.44 and a beta of 0.92. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.43.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its stake 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 purchasing an additional 2,203 shares during the last quarter. Privium Fund Management B.V. raised its position in Sendas Distribuidora by 26.3% during the 2nd quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock worth $122,000 after buying an additional 2,900 shares during the last quarter. AQR Capital Management LLC lifted its stake 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 worth $184,000 after acquiring an additional 6,068 shares during the period. Signaturefd LLC lifted its stake in shares of Sendas Distribuidora by 186.4% in the 3rd quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock worth $69,000 after acquiring an additional 6,567 shares during the period. Finally, SPX Gestao de Recursos Ltda boosted its holdings in shares of Sendas Distribuidora by 13.3% in the second quarter. SPX Gestao de Recursos Ltda now owns 81,733 shares of the company’s stock valued at $760,000 after acquiring an additional 9,607 shares in the last quarter. 8.76% of the stock is currently owned by institutional investors and hedge funds.

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.