Sendas Distribuidora (NYSE:ASAI) Reaches New 1-Year Low – Here’s Why

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price hit a new 52-week low during trading on Friday . The company traded as low as $5.57 and last traded at $5.57, with a volume of 40990 shares traded. The stock had previously closed at $6.28.

Wall Street Analysts Forecast Growth

ASAI has been the subject of a number of research analyst reports. Bank of America lowered shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price for the company. in a research note on Friday, September 13th. Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lowered Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price on the stock. in a research report on Monday, September 9th.

Sendas Distribuidora Trading Down 11.3 %

The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.43. The business’s 50-day moving average is $6.49 and its two-hundred day moving average is $8.77. The firm has a market cap of $1.51 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.51 and a beta of 1.03.

Hedge Funds Weigh In On Sendas Distribuidora

Several hedge funds have recently modified their holdings of the stock. Blue Trust Inc. boosted its position in Sendas Distribuidora by 145.6% during the third quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after purchasing an additional 2,203 shares during the last quarter. Signaturefd LLC boosted its holdings in shares of Sendas Distribuidora by 186.4% in the 3rd 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. Sequoia Financial Advisors LLC bought a new position in shares of Sendas Distribuidora in the third quarter valued at $77,000. Privium Fund Management B.V. increased its holdings in Sendas Distribuidora by 26.3% during 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 last quarter. Finally, Bayesian Capital Management LP bought a new stake in Sendas Distribuidora during the first quarter worth $160,000. Institutional investors own 8.76% of the company’s stock.

About Sendas Distribuidora

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.