Sendas Distribuidora (NYSE:ASAI) Shares Down 5.3% – What’s Next?

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price was down 5.3% during trading on Wednesday . The stock traded as low as $6.33 and last traded at $6.39. Approximately 233,633 shares were traded during trading, a decline of 40% from the average daily volume of 391,879 shares. The stock had previously closed at $6.75.

Analysts Set New Price Targets

ASAI has been the subject of a number of research analyst reports. Hsbc Global Res upgraded shares of Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th. Bank of America cut shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price target on the stock. in a research report on Friday, September 13th. Finally, JPMorgan Chase & Co. lowered 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.

Sendas Distribuidora Trading Down 7.0 %

The stock has a market cap of $1.70 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 0.52 and a beta of 1.03. The firm’s 50 day simple moving average is $6.52 and its two-hundred day simple moving average is $8.79. The company has a quick ratio of 0.43, a current ratio of 0.86 and a debt-to-equity ratio of 4.15.

Hedge Funds Weigh In On Sendas Distribuidora

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 2,203 shares during the period. Privium Fund Management B.V. increased its position 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 worth $122,000 after buying an additional 2,900 shares during the period. AQR Capital Management LLC increased its position in Sendas Distribuidora by 44.4% in the second quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock worth $184,000 after buying an additional 6,068 shares during the period. 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 last quarter. Finally, SPX Gestao de Recursos Ltda boosted its holdings in shares of Sendas Distribuidora by 13.3% during the second quarter. SPX Gestao de Recursos Ltda now owns 81,733 shares of the company’s stock valued at $760,000 after acquiring an additional 9,607 shares during the period. 8.76% of the stock is currently owned by institutional investors and hedge funds.

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.