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

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $5.53, but opened at $5.40. Sendas Distribuidora shares last traded at $5.26, with a volume of 53,251 shares traded.

Analyst Upgrades and Downgrades

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

Sendas Distribuidora Stock Performance

The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.02, a P/E/G ratio of 0.44 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 $8.40. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 4.15.

Institutional Investors Weigh In On Sendas Distribuidora

Several large investors have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in 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 purchasing an additional 2,203 shares during the last quarter. Signaturefd LLC lifted its position in shares of Sendas Distribuidora by 186.4% in the third quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock valued at $69,000 after buying an additional 6,567 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of Sendas Distribuidora during the 3rd quarter worth approximately $77,000. Privium Fund Management B.V. increased its holdings in shares of 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 acquiring an additional 2,900 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of 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 acquiring an additional 6,068 shares during 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.