Sendas Distribuidora S.A. (NYSE:ASAI) Sees Significant Increase in Short Interest

Sendas Distribuidora S.A. (NYSE:ASAI) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 3,240,000 shares, an increase of 6.6% from the July 15th total of 3,040,000 shares. Based on an average daily volume of 278,900 shares, the days-to-cover ratio is currently 11.6 days.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their target price on shares of Sendas Distribuidora from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Tuesday, July 23rd.

Institutional Investors Weigh In On Sendas Distribuidora

Institutional investors and hedge funds have recently bought and sold shares of the business. Coronation Fund Managers Ltd. increased its stake in shares of Sendas Distribuidora by 35.2% in the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock valued at $75,661,000 after purchasing an additional 2,116,441 shares during the period. Vanguard Group Inc. increased its stake in shares of Sendas Distribuidora by 6.0% in 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 during the period. Breakout Capital Partners LP acquired a new stake in shares of Sendas Distribuidora in the fourth quarter valued at approximately $13,347,000. Renaissance Group LLC increased its stake in shares of Sendas Distribuidora by 6.8% in the first quarter. Renaissance Group LLC now owns 531,101 shares of the company’s stock valued at $7,876,000 after purchasing an additional 33,937 shares during the period. Finally, Barings LLC increased its stake in shares of Sendas Distribuidora by 28.9% in the first quarter. Barings LLC now owns 403,015 shares of the company’s stock valued at $5,957,000 after purchasing an additional 90,256 shares during the period. Institutional investors and hedge funds own 8.76% of the company’s stock.

Sendas Distribuidora Stock Performance

ASAI traded up $0.60 on Monday, hitting $9.89. 589,621 shares of the company’s stock were exchanged, compared to its average volume of 311,265. The firm has a market cap of $2.67 billion, a PE ratio of 18.66, a P/E/G ratio of 0.39 and a beta of 1.05. Sendas Distribuidora has a twelve month low of $8.36 and a twelve month high of $15.25. The stock has a fifty day moving average of $9.72 and a two-hundred day moving average of $12.21. The company has a current ratio of 0.77, a quick ratio of 0.39 and a debt-to-equity ratio of 4.10.

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.