Sendas Distribuidora (NYSE:ASAI) Stock Price Down 4.1% – What’s Next?

Sendas Distribuidora S.A. (NYSE:ASAI) shares dropped 4.1% during trading on Wednesday . The company traded as low as $6.04 and last traded at $6.04. Approximately 28,012 shares were traded during mid-day 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

A number of research analysts recently issued reports on the company. Bank of America downgraded Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective for the company. in a report on Friday, September 13th. JPMorgan Chase & Co. cut shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective for the company. in a research report on Monday, September 9th. Finally, Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th.

Sendas Distribuidora Price Performance

The firm has a market capitalization of $1.64 billion, a P/E ratio of 13.15, a PEG ratio of 0.50 and a beta of 1.03. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 4.15. The business’s 50 day moving average is $6.91 and its 200-day moving average is $9.27.

Institutional Trading of Sendas Distribuidora

Several large investors have recently bought and sold shares of ASAI. SageView Advisory Group LLC bought a new stake in Sendas Distribuidora during the 1st quarter valued at $69,000. Vanguard Group Inc. increased its holdings in shares of Sendas Distribuidora by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock worth $16,626,000 after buying an additional 63,227 shares during the last quarter. Thornburg Investment Management Inc. raised its position in shares of Sendas Distribuidora by 10.8% during the 1st quarter. Thornburg Investment Management Inc. now owns 71,720 shares of the company’s stock valued at $1,033,000 after buying an additional 7,001 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Sendas Distribuidora during the 1st quarter worth $160,000. Finally, Coronation Fund Managers Ltd. increased its stake in Sendas Distribuidora by 35.2% in the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock valued at $75,661,000 after acquiring an additional 2,116,441 shares during the last quarter. 8.76% of the stock is owned by institutional investors and hedge funds.

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.