Sendas Distribuidora (NYSE:ASAI) Shares Down 4.1% – Here’s Why

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price dropped 4.1% on Wednesday . The stock traded as low as $6.04 and last traded at $6.04. Approximately 28,012 shares traded hands during trading, a decline of 93% from the average daily volume of 378,093 shares. The stock had previously closed at $6.30.

Wall Street Analysts Forecast Growth

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

Sendas Distribuidora Stock Down 0.8 %

The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.45. The business has a 50 day moving average of $6.81 and a 200 day moving average of $9.23. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 13.28, a price-to-earnings-growth ratio of 0.50 and a beta of 1.03.

Institutional Trading of Sendas Distribuidora

Large investors have recently made changes to their positions in the business. Blue Trust Inc. grew its holdings in shares of Sendas Distribuidora by 145.6% during the third quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock worth $26,000 after purchasing an additional 2,203 shares during the last quarter. Signaturefd LLC lifted its stake in 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 period. SageView Advisory Group LLC acquired a new position in Sendas Distribuidora in the first quarter valued at about $69,000. Sequoia Financial Advisors LLC acquired a new position in Sendas Distribuidora in the third quarter valued at about $77,000. Finally, Privium Fund Management B.V. lifted its stake in Sendas Distribuidora by 26.3% in the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after buying an additional 2,900 shares during the period. 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.