Sendas Distribuidora (NYSE:ASAI) Shares Gap Up – Here’s What Happened

Sendas Distribuidora S.A. (NYSE:ASAI) gapped up before the market opened on Tuesday . The stock had previously closed at $6.45, but opened at $6.64. Sendas Distribuidora shares last traded at $6.65, with a volume of 44,683 shares changing hands.

Wall Street Analyst Weigh In

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

Sendas Distribuidora Stock Performance

The firm has a fifty day moving average price of $6.55 and a two-hundred day moving average price of $8.83. 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 stock has a market capitalization of $1.80 billion, a PE ratio of 14.02, a P/E/G ratio of 0.50 and a beta of 1.03.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in Sendas Distribuidora by 145.6% during the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after acquiring an additional 2,203 shares in the last quarter. Signaturefd LLC grew its stake in Sendas Distribuidora by 186.4% in the third quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock valued at $69,000 after purchasing an additional 6,567 shares during the last quarter. Sequoia Financial Advisors LLC bought a new position in Sendas Distribuidora in the third quarter worth about $77,000. Privium Fund Management B.V. lifted 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 valued at $122,000 after buying an additional 2,900 shares during the last quarter. Finally, Bayesian Capital Management LP bought a new stake in shares of Sendas Distribuidora in the 1st quarter valued at about $160,000. Hedge funds and other institutional investors own 8.76% of the company’s stock.

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.