Short Interest in Sendas Distribuidora S.A. (NYSE:ASAI) Rises By 9.4%

Sendas Distribuidora S.A. (NYSE:ASAI) was the target of 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 trading volume, of 457,100 shares, the short-interest ratio is presently 13.5 days.

Institutional Investors Weigh In On Sendas Distribuidora

Institutional investors and hedge funds have recently bought and sold shares of the stock. Coronation Fund Managers Ltd. lifted its stake in Sendas Distribuidora by 35.2% during the second quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock worth $75,661,000 after purchasing an additional 2,116,441 shares during the last quarter. Vanguard Group Inc. lifted its position in Sendas Distribuidora by 6.0% in the 1st quarter. Vanguard Group Inc. now owns 1,124,903 shares of the company’s stock worth $16,626,000 after buying an additional 63,227 shares during the last quarter. Barings LLC boosted its stake in Sendas Distribuidora by 28.9% in the first quarter. Barings LLC now owns 403,015 shares of the company’s stock worth $5,957,000 after buying an additional 90,256 shares in the last quarter. Renaissance Technologies LLC bought a new position in Sendas Distribuidora during the second quarter valued at approximately $810,000. Finally, SPX Gestao de Recursos Ltda raised its stake in shares of Sendas Distribuidora by 13.3% during the second quarter. SPX Gestao de Recursos Ltda now owns 81,733 shares of the company’s stock worth $760,000 after acquiring an additional 9,607 shares in the last quarter. 8.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. cut 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. Bank of America lowered Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price for the company. in a report on Friday, September 13th. Finally, Hsbc Global Res raised shares of Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th.

Sendas Distribuidora Price Performance

Shares of Sendas Distribuidora stock traded down $0.01 during trading on Thursday, hitting $6.31. The stock had a trading volume of 704,417 shares, compared to its average volume of 361,212. The company has a current ratio of 0.84, a quick ratio of 0.45 and a debt-to-equity ratio of 4.18. Sendas Distribuidora has a 12 month low of $5.73 and a 12 month high of $15.25. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of 11.60, a P/E/G ratio of 0.50 and a beta of 1.02. The business’s 50-day moving average is $7.90 and its 200 day moving average is $10.23.

Sendas Distribuidora (NYSE:ASAI) last announced its earnings results on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The business had revenue of $3.43 billion for the quarter, compared to analyst estimates of $3.60 billion. Sendas Distribuidora had a return on equity of 14.49% and a net margin of 0.95%. As a group, sell-side analysts anticipate that Sendas Distribuidora will post 0.43 earnings per share for the current year.

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.