Sendas Distribuidora S.A. (NYSE:ASAI) Sees Large Increase in Short Interest

Sendas Distribuidora S.A. (NYSE:ASAI) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totalling 6,170,000 shares, a growth of 9.4% from the September 15th total of 5,640,000 shares. Based on an average daily trading volume, of 457,100 shares, the short-interest ratio is currently 13.5 days.

Wall Street Analysts Forecast Growth

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

Sendas Distribuidora Trading Down 2.7 %

Shares of Sendas Distribuidora stock traded down $0.17 during trading on Thursday, reaching $6.15. 319,882 shares of the company were exchanged, compared to its average volume of 359,051. The company has a quick ratio of 0.45, a current ratio of 0.84 and a debt-to-equity ratio of 4.18. Sendas Distribuidora has a twelve month low of $5.73 and a twelve month high of $15.25. The business has a 50-day moving average price of $7.90 and a 200-day moving average price of $10.23. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 11.92, a P/E/G ratio of 0.50 and a beta of 1.02.

Sendas Distribuidora (NYSE:ASAI) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. The business had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Sell-side analysts anticipate that Sendas Distribuidora will post 0.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Sendas Distribuidora

A number of institutional investors have recently made changes to their positions in ASAI. SageView Advisory Group LLC acquired a new stake in shares of Sendas Distribuidora during the first quarter worth $69,000. PNC Financial Services Group Inc. grew its stake in Sendas Distribuidora by 29.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock valued at $103,000 after acquiring an additional 1,713 shares during the period. Privium Fund Management B.V. grew 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 acquiring an additional 2,900 shares during the period. Bayesian Capital Management LP acquired a new position in Sendas Distribuidora in the first quarter valued at about $160,000. Finally, Confluence Investment Management LLC acquired a new position in Sendas Distribuidora in the first quarter valued at about $171,000. 8.76% of the stock is 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.