Short Interest in Sendas Distribuidora S.A. Sponsored ADR (OTCMKTS:ASAIY) Declines By 62.3%

Key Points

• Short interest in Sendas Distribuidora S.A. decreased by 62.3% in August, dropping from 987,900 shares to 372,300 shares.
• Analysts have downgraded the stock from a "strong-buy" to a "hold" rating, leading to a consensus rating of "Hold."
• The stock is currently trading at $8.94, with a market capitalization of $2.42 billion and a P/E ratio of 15.41.

Sendas Distribuidora S.A. Sponsored ADR (OTCMKTS:ASAIY - Get Free Report) was the recipient of a large decline in short interest during the month of August. As of August 15th, there was short interest totaling 372,300 shares, adeclineof62.3% from the July 31st total of 987,900 shares. Based on an average daily volume of 40,900 shares, the days-to-cover ratio is currently 9.1 days. Based on an average daily volume of 40,900 shares, the days-to-cover ratio is currently 9.1 days.

Sendas Distribuidora Stock Down 0.4%

ASAIY traded down $0.04 on Tuesday, reaching $9.36. The company had a trading volume of 8,641 shares, compared to its average volume of 114,369. The firm has a market cap of $2.53 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.55 and a beta of 0.87. The company has a debt-to-equity ratio of 4.41, a quick ratio of 0.53 and a current ratio of 1.11. Sendas Distribuidora has a fifty-two week low of $4.06 and a fifty-two week high of $10.67.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ASAIY. Zacks Research downgraded shares of Sendas Distribuidora from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 27th. Wall Street Zen lowered shares of Sendas Distribuidora from a "strong-buy" rating to a "hold" rating in a research note on Sunday, August 24th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold".

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.