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

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $5.41, but opened at $5.02. Sendas Distribuidora shares last traded at $5.11, with a volume of 191,409 shares trading hands.

Analyst Ratings Changes

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

Sendas Distribuidora Stock Down 5.3 %

The company’s 50 day simple moving average is $6.09 and its 200-day simple moving average is $8.16. The firm has a market cap of $1.30 billion, a P/E ratio of 10.46, a PEG ratio of 0.44 and a beta of 0.92. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 4.15.

Hedge Funds Weigh In On Sendas Distribuidora

Hedge funds and other institutional investors have recently modified their holdings of the company. Centiva Capital LP grew its holdings in shares of Sendas Distribuidora by 208.1% in the third quarter. Centiva Capital LP now owns 47,857 shares of the company’s stock worth $329,000 after acquiring an additional 32,326 shares during the period. Walleye Capital LLC bought a new stake in shares of Sendas Distribuidora during the 3rd quarter valued at about $535,000. Ruane Cunniff & Goldfarb L.P. increased its position in shares of Sendas Distribuidora by 9.4% during the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 151,270 shares of the company’s stock valued at $1,041,000 after purchasing an additional 12,988 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Sendas Distribuidora in the 3rd quarter worth approximately $258,000. Finally, Signaturefd LLC boosted its holdings in shares of Sendas Distribuidora by 186.4% in the third 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 last quarter. 8.76% of the stock is owned by institutional investors.

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.