Sendas Distribuidora (NYSE:ASAI) Shares Gap Down – Should You Sell?

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $4.47, but opened at $4.35. Sendas Distribuidora shares last traded at $4.37, with a volume of 51,121 shares trading hands.

Analyst Ratings Changes

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

Sendas Distribuidora Trading Down 0.7 %

The company has a 50 day moving average of $5.64 and a 200 day moving average of $7.51. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.43 and a current ratio of 0.86. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 9.65, a P/E/G ratio of 0.44 and a beta of 0.92.

Hedge Funds Weigh In On Sendas Distribuidora

A number of institutional investors and hedge funds have recently bought and sold shares of ASAI. Blue Trust Inc. grew its holdings in Sendas Distribuidora by 145.6% in the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock valued at $26,000 after buying an additional 2,203 shares in the last quarter. AQR Capital Management LLC grew its holdings 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 purchasing an additional 6,068 shares during the period. Signaturefd LLC grew its holdings in shares of 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 period. SPX Gestao de Recursos Ltda increased its position in 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 purchasing an additional 9,607 shares during the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in Sendas Distribuidora during the third quarter worth about $77,000. 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.