Sendas Distribuidora (NYSE:ASAI) Sets New 12-Month Low – Here’s What Happened

Sendas Distribuidora S.A. (NYSE:ASAI)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $4.80 and last traded at $4.80, with a volume of 3650 shares trading hands. The stock had previously closed at $4.81.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of Sendas Distribuidora from an “overweight” rating to a “neutral” rating and set a $10.50 price objective on the stock. in a research report on Monday, September 9th. Hsbc Global Res upgraded Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, 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.

Sendas Distribuidora Stock Performance

The business has a 50-day moving average of $6.02 and a two-hundred day moving average of $8.00. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.43. The company has a market cap of $1.24 billion, a P/E ratio of 9.95, a P/E/G ratio of 0.44 and a beta of 0.92.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Centiva Capital LP boosted its stake in Sendas Distribuidora by 208.1% in the third quarter. Centiva Capital LP now owns 47,857 shares of the company’s stock valued at $329,000 after acquiring an additional 32,326 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of Sendas Distribuidora in the 3rd quarter worth $535,000. Ruane Cunniff & Goldfarb L.P. grew its stake in Sendas Distribuidora by 9.4% during the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 151,270 shares of the company’s stock worth $1,041,000 after buying an additional 12,988 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Sendas Distribuidora during the 3rd quarter valued at about $258,000. Finally, Signaturefd LLC boosted its holdings in Sendas Distribuidora by 186.4% in the third quarter. Signaturefd LLC now owns 10,091 shares of the company’s stock worth $69,000 after acquiring an additional 6,567 shares in the last quarter. Hedge funds and other institutional investors own 8.76% of the company’s stock.

Sendas Distribuidora Company Profile

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.