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

Key Points

• Sendas Distribuidora experienced a noticeable gap down in its stock price, opening at $9.19 after closing at $9.48.
• Analyst ratings for Sendas have recently shifted, with Zacks and Wall Street Zen both downgrading the stock from a "strong-buy" to a "hold" rating.
• The company has a market capitalization of $2.50 billion and operates 185 stores in Brazil under the Assaí banner, serving a diverse array of customers including restaurants and small businesses.

Sendas Distribuidora S.A. Sponsored ADR (OTCMKTS:ASAIY - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $9.48, but opened at $9.19. Sendas Distribuidora shares last traded at $9.24, with a volume of 419 shares trading hands.

Analyst Upgrades and Downgrades

ASAIY has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Sendas Distribuidora from a "strong-buy" rating to a "hold" rating in a research report on Sunday, August 24th. Zacks Research downgraded shares of Sendas Distribuidora from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

Sendas Distribuidora Stock Performance

The company has a market capitalization of $2.67 billion, a P/E ratio of 17.00, a price-to-earnings-growth ratio of 0.53 and a beta of 0.87. The company has a current ratio of 1.11, a quick ratio of 0.53 and a debt-to-equity ratio of 4.41.

About Sendas Distribuidora

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.