Sendas Distribuidora (NYSE:ASAI) Stock Price Down 3.6%

Sendas Distribuidora S.A. (NYSE:ASAI)’s share price fell 3.6% during trading on Thursday . The company traded as low as $8.51 and last traded at $8.51. 29,009 shares changed hands during trading, a decline of 91% from the average session volume of 321,347 shares. The stock had previously closed at $8.83.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. boosted their price objective on shares of Sendas Distribuidora from $17.00 to $18.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 23rd.

Sendas Distribuidora Stock Performance

The company has a 50 day moving average price of $9.29 and a 200 day moving average price of $11.79. The company has a debt-to-equity ratio of 4.18, a quick ratio of 0.45 and a current ratio of 0.84. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 16.66, a P/E/G ratio of 0.55 and a beta of 1.04.

Sendas Distribuidora (NYSE:ASAI) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $3.43 billion for the quarter, compared to the consensus estimate of $3.60 billion. Sendas Distribuidora had a net margin of 0.95% and a return on equity of 14.49%. Equities research analysts predict that Sendas Distribuidora S.A. will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sendas Distribuidora

Institutional investors and hedge funds have recently bought and sold shares of the stock. SageView Advisory Group LLC bought a new stake in shares of Sendas Distribuidora during the first quarter valued at approximately $69,000. PNC Financial Services Group Inc. increased its stake in shares of Sendas Distribuidora by 29.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,479 shares of the company’s stock worth $103,000 after acquiring an additional 1,713 shares in the last quarter. Jump Financial LLC bought a new position in shares of Sendas Distribuidora in the 4th quarter worth about $143,000. Bayesian Capital Management LP purchased a new position in Sendas Distribuidora during the 1st quarter valued at about $160,000. Finally, Privium Fund Management B.V. bought a new stake in Sendas Distribuidora during the first quarter worth about $163,000. 8.76% of the stock is currently owned by institutional investors.

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.