Sendas Distribuidora (NYSE:ASAI) Stock Price Down 7.3% – Here’s What Happened

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price dropped 7.3% during mid-day trading on Thursday . The company traded as low as $6.29 and last traded at $6.31. Approximately 659,242 shares changed hands during mid-day trading, an increase of 76% from the average daily volume of 375,111 shares. The stock had previously closed at $6.81.

Analyst Upgrades and Downgrades

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

Sendas Distribuidora Stock Performance

The firm’s 50 day moving average is $7.00 and its two-hundred day moving average is $9.42. The stock has a market capitalization of $1.67 billion, a PE ratio of 12.32, a P/E/G ratio of 0.54 and a beta of 1.03. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84.

Sendas Distribuidora (NYSE:ASAI) last announced its earnings results on Friday, November 8th. The company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. The business had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.57 billion. As a group, research analysts predict that Sendas Distribuidora S.A. will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Sendas Distribuidora during the 3rd quarter worth approximately $258,000. Signaturefd LLC grew its holdings in 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 acquiring an additional 6,567 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new position in Sendas Distribuidora during the 3rd quarter worth approximately $77,000. Blue Trust Inc. grew its holdings in Sendas Distribuidora by 145.6% during the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock worth $26,000 after acquiring an additional 2,203 shares in the last quarter. Finally, Creative Planning grew its holdings in Sendas Distribuidora by 110.0% during the 3rd quarter. Creative Planning now owns 36,339 shares of the company’s stock worth $250,000 after acquiring an additional 19,034 shares in 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.