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

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) gapped up prior to trading 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.

Analyst Ratings Changes

Several research firms have commented on ASAI. JPMorgan Chase & Co. lowered shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price on the stock. in a report on Monday, September 9th. Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, 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 report on Friday, September 13th.

Sendas Distribuidora Trading Down 7.0 %

The business’s 50 day moving average price is $6.52 and its two-hundred day moving average price is $8.79. The company has a current ratio of 0.86, a quick ratio of 0.43 and a debt-to-equity ratio of 4.15. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 0.52 and a beta of 1.03.

Institutional Investors Weigh In On Sendas Distribuidora

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake 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 purchasing an additional 63,227 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of Sendas Distribuidora in the 2nd quarter valued at approximately $810,000. Coronation Fund Managers Ltd. boosted its stake in shares of Sendas Distribuidora by 23.6% in the 2nd quarter. Coronation Fund Managers Ltd. now owns 7,441,629 shares of the company’s stock valued at $69,207,000 after purchasing an additional 1,422,458 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of Sendas Distribuidora in the 3rd quarter valued at approximately $77,000. Finally, Signaturefd LLC boosted its stake in shares of Sendas Distribuidora by 186.4% in the 3rd quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock valued at $69,000 after purchasing an additional 6,567 shares in the last quarter. 8.76% of the stock is currently owned by institutional investors and hedge funds.

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.