Sendas Distribuidora (NYSE:ASAI) Shares Gap Down to $8.92

Sendas Distribuidora S.A. (NYSE:ASAI) gapped down before the market opened on Monday . The stock had previously closed at $8.92, but opened at $8.73. Sendas Distribuidora shares last traded at $8.76, with a volume of 14,880 shares traded.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. lifted their price objective on shares of Sendas Distribuidora from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 23rd.

Sendas Distribuidora Stock Up 0.6 %

The company has a 50-day moving average of $9.48 and a 200-day moving average of $11.98. The company has a current ratio of 0.77, a quick ratio of 0.39 and a debt-to-equity ratio of 4.10. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 0.39 and a beta of 1.05.

Institutional Trading of Sendas Distribuidora

A number of institutional investors have recently bought and sold shares of ASAI. Tower Research Capital LLC TRC increased its stake in Sendas Distribuidora by 535.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,378 shares of the company’s stock valued at $47,000 after purchasing an additional 2,846 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Sendas Distribuidora in the 1st quarter valued at $69,000. PNC Financial Services Group Inc. lifted its position in Sendas Distribuidora by 29.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock worth $103,000 after acquiring an additional 1,713 shares during the period. Jump Financial LLC purchased a new position in shares of Sendas Distribuidora in the fourth quarter worth about $143,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of Sendas Distribuidora during the first quarter worth about $160,000. 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.