Sendas Distribuidora (OTCMKTS:ASAIY) Shares Gap Down - Here's Why

Key Points

• Sendas Distribuidora's shares experienced a significant gap down from a previous close of $8.36 to an opening price of $8.00, with the last trade recorded at $7.86.
• Several brokerages, including Zacks Research and Wall Street Zen, have downgraded the stock from a "strong-buy" to a "hold" rating, indicating a cautious outlook from analysts.
• The company operates 185 stores and has a market capitalization of $2.19 billion, alongside a notable debt-to-equity ratio of 4.41, which may raise concerns about its financial stability.

Sendas Distribuidora S.A. Sponsored ADR (OTCMKTS:ASAIY - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $8.36, but opened at $8.00. Sendas Distribuidora shares last traded at $7.86, with a volume of 1,219 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on ASAIY. Zacks Research lowered Sendas Distribuidora from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 27th. Wall Street Zen downgraded Sendas Distribuidora from a "strong-buy" rating to a "hold" rating in a report on Sunday, August 24th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold".

Sendas Distribuidora Stock Performance

The firm has a market capitalization of $2.19 billion, a P/E ratio of 13.95, a price-to-earnings-growth ratio of 0.41 and a beta of 0.84. The company has a quick ratio of 0.53, a current ratio of 1.11 and a debt-to-equity ratio of 4.41. The company's 50 day moving average price is $9.05.

Sendas Distribuidora Company Profile

Sendas Distribuidora SA engages in the retail and wholesale sale of food products, bazaar items, and other products in Brazil. As of April 22, 2021, the company operated 185 stores under the Assaí banner, as well as 10 distribution centers. It serves restaurants, pizzerias, snack bars, schools, small businesses, religious institutions, hospitals, hotels, grocery stores, neighborhood supermarkets, and individuals.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.