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

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

Analyst Ratings Changes

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

Sendas Distribuidora Trading Down 0.8 %

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

Hedge Funds Weigh In On Sendas Distribuidora

A number of hedge funds have recently added to or reduced their stakes in ASAI. Blue Trust Inc. lifted its holdings in Sendas Distribuidora by 145.6% in 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 period. Privium Fund Management B.V. raised its holdings in Sendas Distribuidora by 26.3% during the 2nd 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. SageView Advisory Group LLC acquired a new stake in Sendas Distribuidora during the 1st quarter worth about $69,000. AQR Capital Management LLC raised its holdings in Sendas Distribuidora by 44.4% during the 2nd 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. Finally, Signaturefd LLC raised its holdings in 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 buying an additional 6,567 shares during the period. Institutional investors and hedge funds 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.