Ambev (NYSE:ABEV) Shares Gap Down – Should You Sell?

Ambev S.A. (NYSE:ABEV) shares gapped down prior to trading on Friday . The stock had previously closed at $2.15, but opened at $2.07. Ambev shares last traded at $2.10, with a volume of 5,201,347 shares.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Ambev in a report on Friday, October 18th. They set a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $2.70.

Ambev Trading Down 1.4 %

The stock has a market capitalization of $33.40 billion, a PE ratio of 11.78, a PEG ratio of 6.69 and a beta of 1.06. The company has a quick ratio of 0.89, a current ratio of 1.20 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average is $2.27 and its two-hundred day moving average is $2.24.

Institutional Investors Weigh In On Ambev

A number of institutional investors and hedge funds have recently made changes to their positions in ABEV. MCIA Inc purchased a new position in Ambev during the third quarter worth about $25,000. HTLF Bank purchased a new position in Ambev in the third quarter valued at about $26,000. Wealthstream Advisors Inc. acquired a new stake in shares of Ambev in the third quarter valued at approximately $29,000. Riversedge Advisors LLC acquired a new stake in shares of Ambev in the third quarter valued at approximately $31,000. Finally, Foster Group Inc. acquired a new stake in shares of Ambev in the third quarter valued at approximately $33,000. 8.13% of the stock is owned by hedge funds and other institutional investors.

About Ambev

Ambev SA, through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada. It offers beer primarily under the Skol, Brahma, Antarctica, Brahva, Budweiser, Bud Light, Beck, Leffe, Hoegaarden, Balboa ICE, Balboa, Atlas Golden Light, Atlas, Bucanero, Cristal, Mayabe, Presidente, Presidente Light, Brahma Light, Bohemia, The One, Corona, Modelo Especial, Stella Artois, Quilmes Clásica, Paceña, Taquiña, Huari, Becker, Cusqueña, Michelob Ultra, Busch, Pilsen, Ouro Fino, Bud 66, Banks, Deputy, Patricia, Labatt Blue, Alexander Keith’s, and Kokanee brands.