Ambev (NYSE:ABEV) Shares Gap Down - Time to Sell?

Ambev S.A. (NYSE:ABEV - Get Free Report)'s share price 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 trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Ambev in a research report on Friday, October 18th. They issued a "buy" rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Ambev has a consensus rating of "Moderate Buy" and a consensus target price of $2.70.

Ambev Stock Performance

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 company has a 50 day simple moving average of $2.27 and a 200-day simple moving average of $2.24. The stock has a market capitalization of $33.40 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 6.69 and a beta of 1.06.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Private Management Group Inc. purchased a new position in shares of Ambev in the second quarter valued at about $19,149,000. Allspring Global Investments Holdings LLC increased its position in Ambev by 323.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,913,282 shares of the company's stock worth $20,322,000 after buying an additional 7,570,842 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Ambev by 27.7% during the 2nd quarter. Renaissance Technologies LLC now owns 34,133,000 shares of the company's stock valued at $69,973,000 after buying an additional 7,412,395 shares in the last quarter. Marshall Wace LLP grew its holdings in Ambev by 324.8% during the 2nd quarter. Marshall Wace LLP now owns 8,324,037 shares of the company's stock valued at $17,064,000 after buying an additional 6,364,592 shares in the last quarter. Finally, Kiltearn Partners LLP boosted its stake in Ambev by 43.3% during the second quarter. Kiltearn Partners LLP now owns 14,575,900 shares of the company's stock valued at $29,881,000 after buying an additional 4,407,800 shares during the last quarter. Hedge funds and other institutional investors own 8.13% of the company's stock.

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.