Sendas Distribuidora (NYSE:ASAI) Hits New 1-Year Low – What’s Next?

Sendas Distribuidora S.A. (NYSE:ASAI) shares hit a new 52-week low during trading on Monday . The company traded as low as $5.03 and last traded at $5.06, with a volume of 39575 shares. The stock had previously closed at $5.07.

Wall Street Analyst Weigh In

ASAI has been the subject of a number of analyst reports. JPMorgan Chase & Co. cut shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price target for the company. in a research note on Monday, September 9th. Bank of America cut shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price for the company. in a research note on Friday, September 13th. Finally, Hsbc Global Res upgraded shares of Sendas Distribuidora to a “strong-buy” rating in a research note on Tuesday, September 24th.

Sendas Distribuidora Stock Up 4.6 %

The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.43 and a current ratio of 0.86. The firm’s 50-day moving average is $6.16 and its two-hundred day moving average is $8.26. The stock has a market cap of $1.43 billion, a P/E ratio of 11.48, a PEG ratio of 0.41 and a beta of 0.92.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Coronation Fund Managers Ltd. grew its holdings in Sendas Distribuidora by 35.2% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock worth $75,661,000 after acquiring an additional 2,116,441 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Sendas Distribuidora in the 2nd quarter valued at $810,000. Walleye Capital LLC acquired a new position in shares of Sendas Distribuidora in the 3rd quarter valued at $535,000. Vanguard Group Inc. grew 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 valued at $16,626,000 after buying an additional 63,227 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Sendas Distribuidora in the 3rd quarter valued at $258,000. Institutional investors own 8.76% of the company’s stock.

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.