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

Sendas Distribuidora S.A. (NYSE:ASAI) shares gapped up prior to trading on Thursday . The stock had previously closed at $5.40, but opened at $5.69. Sendas Distribuidora shares last traded at $5.70, with a volume of 99,613 shares traded.

Analysts Set New Price Targets

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

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 firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 0.43 and a beta of 0.92. The firm’s fifty day moving average is $6.31 and its 200 day moving average is $8.51.

Institutional Trading of Sendas Distribuidora

Several institutional investors have recently made changes to their positions in the stock. Centiva Capital LP raised its position in Sendas Distribuidora by 208.1% during the third quarter. Centiva Capital LP now owns 47,857 shares of the company’s stock valued at $329,000 after acquiring an additional 32,326 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Sendas Distribuidora in the third quarter valued at approximately $535,000. Ruane Cunniff & Goldfarb L.P. raised its position in shares of Sendas Distribuidora by 9.4% in the third 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 period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Sendas Distribuidora in the third quarter valued at approximately $258,000. Finally, Signaturefd LLC raised its position 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 purchasing an additional 6,567 shares during the period. 8.76% of the stock is currently owned by institutional investors and hedge funds.

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.