Sendas Distribuidora (NYSE:ASAI) Sees Strong Trading Volume – What’s Next?

Shares of Sendas Distribuidora S.A. (NYSE:ASAI) saw strong trading volume on Friday . 5,757,595 shares traded hands during mid-day trading, an increase of 1,200% from the previous session’s volume of 443,029 shares.The stock last traded at $4.59 and had previously closed at $4.40.

Analyst Upgrades and Downgrades

ASAI has been the topic of several analyst reports. Bank of America lowered Sendas Distribuidora from a “buy” rating to a “neutral” rating and set a $9.10 target price on the stock. in a report on Friday, September 13th. Hsbc Global Res raised Sendas Distribuidora to a “strong-buy” rating in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lowered 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 report on Monday, September 9th.

Sendas Distribuidora Trading Up 4.8 %

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 business has a 50-day simple moving average of $5.93 and a two-hundred day simple moving average of $7.90. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 0.44 and a beta of 0.92.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ASAI. Privium Fund Management B.V. lifted its holdings in Sendas Distribuidora by 26.3% during 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 last quarter. Daiwa Securities Group Inc. raised its position in shares of Sendas Distribuidora by 66.7% in the second quarter. Daiwa Securities Group Inc. now owns 35,000 shares of the company’s stock valued at $326,000 after purchasing an additional 14,000 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Sendas Distribuidora during the 2nd quarter worth about $810,000. Marshall Wace LLP bought a new stake in shares of Sendas Distribuidora during the 2nd quarter worth about $212,000. Finally, AQR Capital Management LLC grew its stake in Sendas Distribuidora by 44.4% in the 2nd quarter. AQR Capital Management LLC now owns 19,738 shares of the company’s stock valued at $184,000 after buying an additional 6,068 shares during the last quarter. 8.76% of the stock is owned by institutional investors and hedge funds.

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.