Sendas Distribuidora (NYSE:ASAI) Shares Up 3.6% – Here’s What Happened

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price shot up 3.6% during mid-day trading on Tuesday . The stock traded as high as $5.29 and last traded at $5.23. 61,085 shares were traded during mid-day trading, a decline of 85% from the average session volume of 403,694 shares. The stock had previously closed at $5.05.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Bank of America lowered 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 report on Friday, September 13th. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. downgraded shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective on the stock. in a research note on Monday, September 9th.

Sendas Distribuidora Price Performance

The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 4.15. The firm’s fifty day moving average price is $6.19 and its 200 day moving average price is $8.31. The firm has a market capitalization of $1.43 billion, a PE ratio of 10.98, a P/E/G ratio of 0.41 and a beta of 0.92.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its stake in Sendas Distribuidora by 145.6% during the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after acquiring an additional 2,203 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of 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 purchasing an additional 6,567 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Sendas Distribuidora in the third quarter valued at approximately $77,000. Privium Fund Management B.V. increased its holdings in shares of 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 purchasing an additional 2,900 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position in Sendas Distribuidora by 44.4% during 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 in the last quarter. Hedge funds and other 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.