Sendas Distribuidora (NYSE:ASAI) Stock Price Down 7.3% – Here’s What Happened

Sendas Distribuidora S.A. (NYSE:ASAI) shares traded down 7.3% on Thursday . The company traded as low as $6.29 and last traded at $6.31. 659,242 shares traded hands during trading, an increase of 76% from the average session volume of 375,111 shares. The stock had previously closed at $6.81.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Hsbc Global Res upgraded shares of Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th. Bank of America lowered 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 shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target on the stock. in a research report on Monday, September 9th.

Sendas Distribuidora Stock Down 2.8 %

The company has a debt-to-equity ratio of 4.18, a current ratio of 0.84 and a quick ratio of 0.45. The business’s 50 day simple moving average is $7.00 and its 200 day simple moving average is $9.42. The company has a market capitalization of $1.67 billion, a PE ratio of 12.32, a P/E/G ratio of 0.54 and a beta of 1.03.

Sendas Distribuidora (NYSE:ASAI) last issued its earnings results on Friday, November 8th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. The firm had revenue of $3.35 billion for the quarter, compared to analysts’ expectations of $3.57 billion. As a group, analysts anticipate that Sendas Distribuidora S.A. will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sendas Distribuidora

Institutional investors have recently bought and sold shares of the company. Daiwa Securities Group Inc. purchased a new stake in shares of Sendas Distribuidora in the 1st quarter valued at approximately $310,000. Barings LLC raised its stake in shares of Sendas Distribuidora by 28.9% in the 1st quarter. Barings LLC now owns 403,015 shares of the company’s stock valued at $5,957,000 after acquiring an additional 90,256 shares during the period. SageView Advisory Group LLC purchased a new stake in shares of Sendas Distribuidora in the 1st quarter valued at approximately $69,000. Vanguard Group Inc. raised its stake in shares of Sendas Distribuidora by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock valued at $16,626,000 after acquiring an additional 63,227 shares during the period. Finally, Thornburg Investment Management Inc. raised its stake in shares of Sendas Distribuidora by 10.8% in the 1st quarter. Thornburg Investment Management Inc. now owns 71,720 shares of the company’s stock valued at $1,033,000 after acquiring an additional 7,001 shares during the period. 8.76% of the stock is owned by hedge funds and other institutional investors.

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.