Sendas Distribuidora S.A. (NYSE:ASAI) Sees Large Growth in Short Interest

Sendas Distribuidora S.A. (NYSE:ASAI) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,970,000 shares, a growth of 7.6% from the March 31st total of 2,760,000 shares. Based on an average daily volume of 307,100 shares, the days-to-cover ratio is currently 9.7 days.

Sendas Distribuidora Trading Up 0.9 %

NYSE ASAI opened at $12.85 on Thursday. Sendas Distribuidora has a 12 month low of $10.44 and a 12 month high of $15.25. The company has a current ratio of 0.77, a quick ratio of 0.39 and a debt-to-equity ratio of 4.10. The stock has a 50 day moving average of $14.07 and a 200-day moving average of $13.48. The company has a market cap of $3.47 billion, a PE ratio of 24.25, a PEG ratio of 0.61 and a beta of 1.17.

Sendas Distribuidora (NYSE:ASAI) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.01. Sendas Distribuidora had a net margin of 1.07% and a return on equity of 16.48%. The company had revenue of $3.72 billion for the quarter, compared to analyst estimates of $3.98 billion. On average, equities research analysts anticipate that Sendas Distribuidora will post 0.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Institutional Trading of Sendas Distribuidora

A number of hedge funds have recently made changes to their positions in ASAI. Tower Research Capital LLC TRC boosted its holdings in shares of Sendas Distribuidora by 535.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,378 shares of the company’s stock worth $47,000 after acquiring an additional 2,846 shares during the period. Quantbot Technologies LP bought a new stake in Sendas Distribuidora in the 3rd quarter valued at $52,000. Signaturefd LLC grew its holdings in Sendas Distribuidora by 45.4% in the 3rd quarter. Signaturefd LLC now owns 5,329 shares of the company’s stock valued at $65,000 after buying an additional 1,665 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Sendas Distribuidora by 36.4% in the 3rd quarter. PNC Financial Services Group Inc. now owns 5,766 shares of the company’s stock valued at $70,000 after buying an additional 1,539 shares in the last quarter. Finally, Jump Financial LLC bought a new position in Sendas Distribuidora during the 4th quarter worth $143,000. 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.