Sendas Distribuidora (NYSE:ASAI) Sees Strong Trading Volume – What’s Next?

Sendas Distribuidora S.A. (NYSE:ASAI) shares saw strong trading volume on Friday . 5,757,595 shares traded hands during mid-day trading, an increase of 1,200% from the previous session’s volume of 443,029 shares.The stock last traded at $4.59 and had previously closed at $4.40.

Wall Street Analysts Forecast Growth

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

Sendas Distribuidora Stock Performance

The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.43. The company’s fifty day moving average price is $5.95 and its 200 day moving average price is $7.95. The company has a market cap of $1.25 billion, a PE ratio of 10.09, a P/E/G ratio of 0.44 and a beta of 0.92.

Institutional Trading of Sendas Distribuidora

A number of institutional investors and hedge funds have recently modified their holdings of the business. Coronation Fund Managers Ltd. increased its stake in shares of Sendas Distribuidora by 23.6% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 7,441,629 shares of the company’s stock worth $69,207,000 after purchasing an additional 1,422,458 shares during the last quarter. Renaissance Technologies LLC bought a new position in Sendas Distribuidora during the second quarter valued at $810,000. Walleye Capital LLC purchased a new stake in Sendas Distribuidora in the third quarter worth $535,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Sendas Distribuidora in the third quarter valued at $258,000. Finally, Centiva Capital LP lifted its position in shares of Sendas Distribuidora by 208.1% during the 3rd quarter. Centiva Capital LP now owns 47,857 shares of the company’s stock valued at $329,000 after buying an additional 32,326 shares during the last quarter. 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.