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

Sendas Distribuidora S.A. (NYSE:ASAI) shares gapped down before the market opened on Thursday . The stock had previously closed at $4.47, but opened at $4.35. Sendas Distribuidora shares last traded at $4.37, with a volume of 51,121 shares trading hands.

Analyst Upgrades and Downgrades

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

Sendas Distribuidora Stock Performance

The firm’s fifty day moving average price is $5.64 and its 200 day moving average price is $7.51. The firm has a market cap of $1.20 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.44 and a beta of 0.92. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.43 and a current ratio of 0.86.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ASAI. Blue Trust Inc. lifted its stake in shares of Sendas Distribuidora by 145.6% during the third quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock worth $26,000 after buying an additional 2,203 shares during the period. Signaturefd LLC boosted its stake 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. Sequoia Financial Advisors LLC acquired a new position in Sendas Distribuidora in the third quarter valued at approximately $77,000. AQR Capital Management LLC increased its holdings in shares of Sendas Distribuidora by 44.4% during the 2nd quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock valued at $184,000 after purchasing an additional 6,068 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in Sendas Distribuidora during the second quarter worth $212,000. 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.