Sendas Distribuidora S.A. (NYSE:ASAI) Sees Large Increase in Short Interest

Sendas Distribuidora S.A. (NYSE:ASAI) saw a large growth in short interest in September. As of September 30th, there was short interest totalling 6,170,000 shares, a growth of 9.4% from the September 15th total of 5,640,000 shares. Based on an average daily volume of 457,100 shares, the days-to-cover ratio is presently 13.5 days.

Sendas Distribuidora Price Performance

Shares of Sendas Distribuidora stock traded down $0.17 during midday trading on Thursday, hitting $6.15. 319,882 shares of the company were exchanged, compared to its average volume of 359,051. The company has a debt-to-equity ratio of 4.18, a current ratio of 0.84 and a quick ratio of 0.45. The firm has a market cap of $1.66 billion, a P/E ratio of 11.92, a PEG ratio of 0.50 and a beta of 1.02. Sendas Distribuidora has a 52 week low of $5.73 and a 52 week high of $15.25. The firm has a 50 day simple moving average of $7.90 and a 200-day simple moving average of $10.23.

Sendas Distribuidora (NYSE:ASAI) last posted its earnings results on Thursday, August 8th. The company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.07 by $0.02. The business had revenue of $3.43 billion during the quarter, compared to the consensus estimate of $3.60 billion. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. Research analysts forecast that Sendas Distribuidora will post 0.43 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on ASAI. JPMorgan Chase & Co. lowered Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective on the stock. in a report on Monday, September 9th. Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, Bank of America lowered Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 price objective on the stock. in a report on Friday, September 13th.

Hedge Funds Weigh In On Sendas Distribuidora

Several hedge funds and other institutional investors have recently modified their holdings of ASAI. SageView Advisory Group LLC bought a new position in shares of Sendas Distribuidora during the 1st quarter worth approximately $69,000. PNC Financial Services Group Inc. raised its position in Sendas Distribuidora by 29.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock valued at $103,000 after purchasing an additional 1,713 shares during the last quarter. Privium Fund Management B.V. raised its position in Sendas Distribuidora by 26.3% in the 2nd quarter. Privium Fund Management B.V. now owns 13,928 shares of the company’s stock valued at $122,000 after purchasing an additional 2,900 shares during the last quarter. Bayesian Capital Management LP bought a new position in Sendas Distribuidora in the 1st quarter valued at $160,000. Finally, Confluence Investment Management LLC bought a new position in Sendas Distribuidora in the 1st quarter valued at $171,000. 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.