Sendas Distribuidora (NYSE:ASAI) Shares Down 5.3% – Here’s What Happened

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price traded down 5.3% during trading on Wednesday . The stock traded as low as $6.33 and last traded at $6.39. 233,633 shares were traded during mid-day trading, a decline of 40% from the average session volume of 391,879 shares. The stock had previously closed at $6.75.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target on the stock. in a report on Monday, September 9th. Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, Bank of America cut 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.

Sendas Distribuidora Price Performance

The business’s 50-day simple moving average is $6.52 and its 200 day simple moving average is $8.79. The company has a market capitalization of $1.70 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.52 and a beta of 1.03. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 4.15.

Institutional Investors Weigh In On Sendas Distribuidora

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASAI. Blue Trust Inc. lifted its position 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. Signaturefd LLC lifted 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 valued at $69,000 after buying an additional 6,567 shares during the period. Bayesian Capital Management LP bought a new position in Sendas Distribuidora during the first quarter valued at about $160,000. Sequoia Financial Advisors LLC bought a new position in Sendas Distribuidora during the third quarter valued at about $77,000. Finally, Privium Fund Management B.V. grew its holdings in Sendas Distribuidora by 26.3% during the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock worth $122,000 after acquiring an additional 2,900 shares during the period. Institutional investors own 8.76% of the company’s stock.

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.