BBB Foods (NYSE:TBBB) Shares Gap Down – Time to Sell?

BBB Foods Inc. (NYSE:TBBB)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $34.16, but opened at $32.14. BBB Foods shares last traded at $31.88, with a volume of 50,971 shares trading hands.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TBBB. Hsbc Global Res raised BBB Foods from a “strong sell” rating to a “hold” rating in a research note on Friday, August 23rd. HSBC raised BBB Foods from a “reduce” rating to a “hold” rating and set a $31.00 target price on the stock in a research note on Friday, August 23rd. JPMorgan Chase & Co. raised their price target on BBB Foods from $30.00 to $34.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Finally, Jefferies Financial Group began coverage on shares of BBB Foods in a research report on Monday, September 9th. They set a “hold” rating and a $33.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, BBB Foods has a consensus rating of “Hold” and an average target price of $30.57.

BBB Foods Stock Performance

The company has a 50-day moving average of $32.05 and a two-hundred day moving average of $28.37. The company has a debt-to-equity ratio of 1.85, a quick ratio of 0.54 and a current ratio of 0.79.

Institutional Trading of BBB Foods

A number of hedge funds and other institutional investors have recently modified their holdings of TBBB. J.Safra Asset Management Corp lifted its position in BBB Foods by 153.3% during the 2nd quarter. J.Safra Asset Management Corp now owns 3,369 shares of the company’s stock valued at $80,000 after acquiring an additional 2,039 shares during the period. Hood River Capital Management LLC lifted its holdings in shares of BBB Foods by 118.5% during the second quarter. Hood River Capital Management LLC now owns 4,958 shares of the company’s stock valued at $119,000 after purchasing an additional 2,689 shares during the last quarter. National Bank of Canada FI bought a new stake in shares of BBB Foods in the 2nd quarter worth approximately $103,000. Engle Capital Management L.P. grew its stake in shares of BBB Foods by 0.7% in the 2nd quarter. Engle Capital Management L.P. now owns 720,000 shares of the company’s stock worth $17,179,000 after buying an additional 5,000 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in BBB Foods during the 2nd quarter valued at approximately $143,000. 8.42% of the stock is owned by hedge funds and other institutional investors.

About BBB Foods

BBB Foods Inc, through its subsidiaries, operates a chain of grocery retail stores in Mexico. It offers household cleaning, personal hyenine, cosmetics and beauty, pharmacy, and general merchandise products, as well as jellies and desserts, foods and drinks, pet supplies, coffee, tea, chocolates, breads, dry and frozen foods, snacks and sweets, and toilet papers and napkins.