Ambev (NYSE:ABEV) Shares Gap Down – Should You Sell?

Ambev S.A. (NYSE:ABEV) gapped down prior to trading on Friday . The stock had previously closed at $2.15, but opened at $2.07. Ambev shares last traded at $2.10, with a volume of 5,201,347 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com began coverage on Ambev in a report on Friday, October 18th. They issued a “buy” rating for the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $2.70.

Ambev Price Performance

The firm has a 50-day simple moving average of $2.27 and a two-hundred day simple moving average of $2.24. The company has a market capitalization of $33.40 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 6.69 and a beta of 1.06. The company has a current ratio of 1.20, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02.

Institutional Investors Weigh In On Ambev

Hedge funds have recently modified their holdings of the company. HTLF Bank purchased a new position in Ambev in the 3rd quarter valued at about $26,000. MCIA Inc purchased a new position in Ambev in the 3rd quarter valued at about $25,000. Wealthstream Advisors Inc. purchased a new position in Ambev in the 3rd quarter valued at about $29,000. Riversedge Advisors LLC purchased a new position in Ambev in the 3rd quarter valued at about $31,000. Finally, Foster Group Inc. purchased a new position in Ambev in the 3rd quarter valued at about $33,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.