Sendas Distribuidora (NYSE:ASAI) Sets New 1-Year Low – Here’s What Happened

Sendas Distribuidora S.A. (NYSE:ASAI) shares reached a new 52-week low during trading on Friday . The stock traded as low as $5.57 and last traded at $5.57, with a volume of 40990 shares. The stock had previously closed at $6.28.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Bank of America downgraded shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price on the stock. in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price for the company. in a research report on Monday, September 9th.

Sendas Distribuidora Stock Performance

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 stock’s 50 day moving average price is $6.42 and its two-hundred day moving average price is $8.70. The firm has a market capitalization of $1.42 billion, a PE ratio of 11.44, a PEG ratio of 0.51 and a beta of 1.03.

Hedge Funds Weigh In On Sendas Distribuidora

Institutional investors and hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. boosted its stake in Sendas Distribuidora by 145.6% in the third quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after acquiring an additional 2,203 shares during the period. Signaturefd LLC raised its position in shares of Sendas Distribuidora by 186.4% during the 3rd quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock worth $69,000 after buying an additional 6,567 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Sendas Distribuidora in the third quarter worth approximately $77,000. Privium Fund Management B.V. grew its holdings in Sendas Distribuidora by 26.3% during the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock worth $122,000 after acquiring an additional 2,900 shares during the period. Finally, AQR Capital Management LLC raised its holdings 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 purchasing an additional 6,068 shares in the last quarter. Hedge funds and other institutional investors own 8.76% of the company’s stock.

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.