Short Interest in Sendas Distribuidora S.A. (NYSE:ASAI) Drops By 10.1%

Sendas Distribuidora S.A. (NYSE:ASAI) saw a significant decline in short interest during the month of April. As of April 30th, there was short interest totalling 2,670,000 shares, a decline of 10.1% from the April 15th total of 2,970,000 shares. Based on an average trading volume of 295,400 shares, the days-to-cover ratio is currently 9.0 days.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. upgraded Sendas Distribuidora from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $15.00 to $17.00 in a research report on Tuesday, April 23rd.

Sendas Distribuidora Trading Up 1.2 %

Shares of Sendas Distribuidora stock traded up $0.16 on Friday, hitting $13.32. 44,095 shares of the company’s stock traded hands, compared to its average volume of 310,623. The firm’s 50-day moving average price is $13.73 and its two-hundred day moving average price is $13.60. The company has a debt-to-equity ratio of 4.10, a current ratio of 0.77 and a quick ratio of 0.39. The stock has a market capitalization of $3.60 billion, a PE ratio of 24.81, a price-to-earnings-growth ratio of 0.63 and a beta of 1.17. Sendas Distribuidora has a one year low of $10.44 and a one year high of $15.25.

Sendas Distribuidora (NYSE:ASAI) last posted its earnings results on Wednesday, February 21st. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. The company had revenue of $3.72 billion during the quarter, compared to analyst estimates of $3.98 billion. Sendas Distribuidora had a return on equity of 15.74% and a net margin of 1.02%. On average, research analysts expect that Sendas Distribuidora will post 0.63 EPS for the current fiscal year.

Institutional Investors Weigh In On Sendas Distribuidora

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Sendas Distribuidora by 8.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,608 shares of the company’s stock worth $300,000 after acquiring an additional 1,865 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Sendas Distribuidora in the 3rd quarter valued at approximately $172,000. Signaturefd LLC raised its holdings in Sendas Distribuidora by 45.4% during the 3rd quarter. Signaturefd LLC now owns 5,329 shares of the company’s stock worth $65,000 after buying an additional 1,665 shares during the period. HBK Sorce Advisory LLC acquired a new position in shares of Sendas Distribuidora in the third quarter valued at approximately $134,000. Finally, Quantbot Technologies LP bought a new stake in shares of Sendas Distribuidora during the third quarter worth $52,000. 8.76% of the stock is currently 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.