Sendas Distribuidora (OTCMKTS:ASAIY) Shares Gap Up - Here's What Happened

Key Points

• Shares gapped up premarket from $9.11 to $9.79 and last traded at $9.78 on volume 12,885, representing roughly a 3.5% intraday increase.
• Zacks Research upgraded Sendas from a "strong sell" to a "hold," and the stock carries a consensus rating of Hold (two analysts).
• The company reported an EPS miss ($0.01 vs. $0.21 expected) and revenue of $3.85B versus $3.93B expected; its balance-sheet metrics include a debt-to-equity of 4.32 and a P/E of 30.63.

Sendas Distribuidora S.A. Sponsored ADR (OTCMKTS:ASAIY - Get Free Report)'s share price gapped up before the market opened on Friday . The stock had previously closed at $9.11, but opened at $9.79. Sendas Distribuidora shares last traded at $9.78, with a volume of 12,885 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded Sendas Distribuidora from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 12th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Sendas Distribuidora Trading Up 3.5%

The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.54 and a current ratio of 1.12. The stock's fifty day moving average is $8.47 and its 200 day moving average is $8.10. The stock has a market cap of $2.65 billion, a P/E ratio of 30.63 and a beta of 0.80.

Sendas Distribuidora (OTCMKTS:ASAIY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.20). Sendas Distribuidora had a net margin of 0.64% and a return on equity of 8.94%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.93 billion.

About Sendas Distribuidora

Sendas Distribuidora SA is a Brazilian retail and distribution company that operates in the grocery and consumer goods sector. The company’s core activities include operating retail outlets and managing distribution operations that supply food, beverages, household products and personal-care items to end consumers and commercial customers. Its business model centers on combining in-store retailing with logistics and supply-chain services to move fast‑moving consumer goods across its network.

Product categories handled by Sendas typically include fresh and packaged foods, dairy and frozen goods, beverages, cleaning and household supplies, and health and beauty products.

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