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

Sendas Distribuidora S.A. (NYSE:ASAI) shares gapped down prior to trading on Wednesday . The stock had previously closed at $4.58, but opened at $4.32. Sendas Distribuidora shares last traded at $4.37, with a volume of 93,456 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ASAI shares. JPMorgan Chase & Co. cut 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. Bank of America lowered shares of Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price on the stock. in a research report on Friday, September 13th. Finally, Hsbc Global Res upgraded shares of Sendas Distribuidora to a “strong-buy” rating in a research report on Tuesday, September 24th.

Sendas Distribuidora Stock Performance

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 company has a market cap of $1.16 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.44 and a beta of 0.92. The firm has a 50 day simple moving average of $6.02 and a 200-day simple moving average of $8.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Sendas Distribuidora by 145.6% in the third quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after purchasing an additional 2,203 shares during the period. Signaturefd LLC grew its stake in shares of Sendas Distribuidora by 186.4% in the third quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock worth $69,000 after acquiring an additional 6,567 shares in the last quarter. Sequoia Financial Advisors LLC purchased a new stake in shares of Sendas Distribuidora during the third quarter worth $77,000. Privium Fund Management B.V. increased its position in shares of Sendas Distribuidora by 26.3% during the second quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock worth $122,000 after acquiring an additional 2,900 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of Sendas Distribuidora by 44.4% in the second quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock valued at $184,000 after acquiring an additional 6,068 shares in the last quarter. 8.76% of the stock is currently owned by hedge funds and other institutional investors.

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.