Ultrapar Participações (NYSE:UGP) Shares Gap Down - Time to Sell?

Ultrapar Participações S.A. (NYSE:UGP - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $3.06, but opened at $2.80. Ultrapar Participações shares last traded at $2.88, with a volume of 500,987 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Ultrapar Participações from a "buy" rating to a "hold" rating in a research report on Wednesday, November 13th. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Ultrapar Participações has an average rating of "Hold" and an average target price of $5.20.

Ultrapar Participações Trading Down 3.6 %

The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $3.29 billion, a PE ratio of 6.41, a P/E/G ratio of 2.41 and a beta of 1.61. The business's fifty day moving average price is $3.59 and its 200 day moving average price is $4.00.

Hedge Funds Weigh In On Ultrapar Participações

Hedge funds and other institutional investors have recently made changes to their positions in the business. Simplicity Wealth LLC raised its holdings in shares of Ultrapar Participações by 41.2% in the second quarter. Simplicity Wealth LLC now owns 35,199 shares of the oil and gas company's stock valued at $138,000 after buying an additional 10,264 shares during the last quarter. Blue Trust Inc. grew its holdings in Ultrapar Participações by 567.5% during the second quarter. Blue Trust Inc. now owns 15,833 shares of the oil and gas company's stock worth $62,000 after purchasing an additional 13,461 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of Ultrapar Participações during the 2nd quarter worth about $5,887,000. Atomi Financial Group Inc. grew its holdings in Ultrapar Participações by 13.7% in the 2nd quarter. Atomi Financial Group Inc. now owns 121,470 shares of the oil and gas company's stock valued at $475,000 after buying an additional 14,650 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. bought a new stake in shares of Ultrapar Participações in the second quarter valued at approximately $57,000. 3.58% of the stock is owned by institutional investors.

About Ultrapar Participações

Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.