Sendas Distribuidora (NYSE:ASAI) Shares Down 5.3% – Should You Sell?

Sendas Distribuidora S.A. (NYSE:ASAI) shares traded down 5.3% during trading on Wednesday . The company traded as low as $6.33 and last traded at $6.39. 233,633 shares were traded during mid-day trading, a decline of 40% from the average session volume of 391,879 shares. The stock had previously closed at $6.75.

Analyst Ratings Changes

ASAI has been the subject of a number of research reports. Hsbc Global Res upgraded Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Bank of America cut 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, JPMorgan Chase & Co. cut Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 target price for the company. in a report on Monday, September 9th.

Sendas Distribuidora Stock Performance

The stock has a fifty day simple moving average of $6.49 and a 200-day simple moving average of $8.77. The stock has a market cap of $1.70 billion, a P/E ratio of 13.65, a PEG ratio of 0.51 and a beta of 1.03. The company has a debt-to-equity ratio of 4.15, a quick ratio of 0.43 and a current ratio of 0.86.

Hedge Funds Weigh In On Sendas Distribuidora

A number of large investors have recently modified their holdings of ASAI. Coronation Fund Managers Ltd. boosted its stake in shares of Sendas Distribuidora by 35.2% during the 2nd quarter. Coronation Fund Managers Ltd. now owns 8,135,612 shares of the company’s stock worth $75,661,000 after buying an additional 2,116,441 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of Sendas Distribuidora during the 2nd quarter worth about $810,000. Walleye Capital LLC acquired a new position in shares of Sendas Distribuidora during the 3rd quarter worth about $535,000. Vanguard Group Inc. boosted its stake in shares of Sendas Distribuidora by 6.0% during 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. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Sendas Distribuidora in the 3rd quarter valued at about $258,000. 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.