Sendas Distribuidora (NYSE:ASAI) Reaches New 1-Year Low – Here’s Why

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $5.57 and last traded at $5.57, with a volume of 40990 shares traded. The stock had previously closed at $6.28.

Analysts Set New Price Targets

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

Sendas Distribuidora Price Performance

The stock has a market capitalization of $1.51 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 0.51 and a beta of 1.03. The company’s 50-day simple moving average is $6.49 and its 200-day simple moving average is $8.77. The company has a debt-to-equity ratio of 4.15, a current ratio of 0.86 and a quick ratio of 0.43.

Institutional Trading of Sendas Distribuidora

Several hedge funds have recently added to or reduced their stakes in ASAI. Blue Trust Inc. increased its position in Sendas Distribuidora by 145.6% during the 3rd quarter. Blue Trust Inc. now owns 3,716 shares of the company’s stock worth $26,000 after buying an additional 2,203 shares during the period. Signaturefd LLC grew its stake 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 acquiring an additional 6,567 shares in the last quarter. Bayesian Capital Management LP bought a new position in Sendas Distribuidora during the first quarter worth about $160,000. Sequoia Financial Advisors LLC acquired a new stake in Sendas Distribuidora in the 3rd quarter worth about $77,000. Finally, Privium Fund Management B.V. boosted its holdings 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 period. 8.76% of the stock is 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.