Sendas Distribuidora (NYSE:ASAI) Shares Gap Down – Time to Sell?

Sendas Distribuidora S.A. (NYSE:ASAI) shares gapped down prior to trading on Thursday . The stock had previously closed at $6.12, but opened at $5.86. Sendas Distribuidora shares last traded at $5.88, with a volume of 278,421 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ASAI. Hsbc Global Res upgraded Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective for the company. in a report on Monday, September 9th. Finally, 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 report 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 firm has a market cap of $1.69 billion, a P/E ratio of 13.57, a PEG ratio of 0.49 and a beta of 1.03. The business has a fifty day moving average of $6.58 and a 200 day moving average of $8.94.

Hedge Funds Weigh In On Sendas Distribuidora

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Coronation Fund Managers Ltd. boosted its holdings in shares of Sendas Distribuidora by 35.2% during the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock worth $75,661,000 after acquiring an additional 2,116,441 shares during the period. Renaissance Technologies LLC acquired a new position in Sendas Distribuidora during the second quarter valued at approximately $810,000. Walleye Capital LLC acquired a new position in Sendas Distribuidora during the third quarter valued at approximately $535,000. Vanguard Group Inc. raised its position in Sendas Distribuidora by 6.0% during the first quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock valued at $16,626,000 after purchasing an additional 63,227 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Sendas Distribuidora during the third quarter valued at approximately $258,000. Institutional investors 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.