Sendas Distribuidora S.A. (NYSE:ASAI) Short Interest Update

Sendas Distribuidora S.A. (NYSE:ASAI) saw a significant growth in short interest in 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 presently 13.5 days.

Wall Street Analyst Weigh In

ASAI has been the subject of several recent analyst reports. Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Bank of America cut shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price target for the company. in a research note on Friday, September 13th. Finally, JPMorgan Chase & Co. downgraded shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective for the company. in a report on Monday, September 9th.

Sendas Distribuidora Price Performance

NYSE:ASAI traded down $0.14 during mid-day trading on Thursday, reaching $6.18. The stock had a trading volume of 376,041 shares, compared to its average volume of 359,578. The stock has a market capitalization of $1.67 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.50 and a beta of 1.02. The firm has a 50 day moving average price of $7.90 and a two-hundred day moving average price of $10.23. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84. Sendas Distribuidora has a one year low of $5.73 and a one year high of $15.25.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Royal London Asset Management Ltd. increased its stake in shares of Sendas Distribuidora by 97.8% in the fourth quarter. Royal London Asset Management Ltd. now owns 61,594 shares of the company’s stock worth $851,000 after buying an additional 30,450 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of Sendas Distribuidora by 29.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock worth $103,000 after purchasing an additional 1,713 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Sendas Distribuidora in the first quarter worth about $171,000. Privium Fund Management B.V. purchased a new position in Sendas Distribuidora during the 1st quarter valued at about $163,000. Finally, Daiwa Securities Group Inc. bought a new position in Sendas Distribuidora during the 1st quarter valued at approximately $310,000. 8.76% of the stock is owned by 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.