Sendas Distribuidora (NYSE:ASAI) Shares Gap Down – Time to Sell?

Sendas Distribuidora S.A. (NYSE:ASAI) gapped down before the market opened on Friday . The stock had previously closed at $5.53, but opened at $5.40. Sendas Distribuidora shares last traded at $5.26, with a volume of 53,251 shares.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Bank of America lowered 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. Hsbc Global Res upgraded 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 note on Monday, September 9th.

Sendas Distribuidora Trading Down 6.1 %

The company has a market capitalization of $1.40 billion, a P/E ratio of 12.01, a PEG ratio of 0.43 and a beta of 0.92. 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 business’s 50-day moving average price is $6.28 and its two-hundred day moving average price is $8.49.

Institutional Trading of Sendas Distribuidora

Several hedge funds have recently bought and sold shares of ASAI. Centiva Capital LP raised its stake in shares of Sendas Distribuidora by 208.1% in the 3rd quarter. Centiva Capital LP now owns 47,857 shares of the company’s stock valued at $329,000 after purchasing an additional 32,326 shares during the period. Walleye Capital LLC acquired a new stake in shares of Sendas Distribuidora in the third quarter valued at approximately $535,000. Ruane Cunniff & Goldfarb L.P. boosted its holdings in Sendas Distribuidora by 9.4% during the third quarter. Ruane Cunniff & Goldfarb L.P. now owns 151,270 shares of the company’s stock worth $1,041,000 after purchasing an additional 12,988 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Sendas Distribuidora in the 3rd quarter valued at $258,000. Finally, Signaturefd LLC grew 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 valued at $69,000 after acquiring an additional 6,567 shares in the last quarter. 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.