Sendas Distribuidora (NYSE:ASAI) Shares Down 4.1% – Should You Sell?

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price was down 4.1% during trading on Wednesday . The company traded as low as $6.04 and last traded at $6.04. Approximately 28,012 shares traded hands during trading, a decline of 93% from the average daily volume of 378,093 shares. The stock had previously closed at $6.30.

Wall Street Analysts Forecast Growth

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

Sendas Distribuidora Price Performance

The stock has a 50 day moving average of $6.91 and a two-hundred day moving average of $9.27. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.45 and a current ratio of 0.86. The firm has a market capitalization of $1.64 billion, a P/E ratio of 13.15, a P/E/G ratio of 0.50 and a beta of 1.03.

Hedge Funds Weigh In On Sendas Distribuidora

A number of hedge funds and other institutional investors have recently made changes to their positions in ASAI. Blue Trust Inc. raised 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 in the last quarter. Signaturefd LLC raised its holdings in shares of Sendas Distribuidora by 186.4% in the 3rd quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock worth $69,000 after buying an additional 6,567 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Sendas Distribuidora in the 1st quarter worth approximately $69,000. Sequoia Financial Advisors LLC acquired a new stake in Sendas Distribuidora in the 3rd quarter valued at $77,000. Finally, Privium Fund Management B.V. grew its position in Sendas Distribuidora by 26.3% in the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after acquiring an additional 2,900 shares during the period. 8.76% of the stock is owned by institutional investors.

Sendas Distribuidora Company Profile

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.