Key Points
- Director De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power for about $9.03 million on May 15, cutting his stake by nearly 49%.
- The director has made multiple recent trades in AXIA, including several large sales in May and April, alongside one sizable purchase on May 8, indicating active insider trading around the stock.
- Brazilian Electric Power shares were trading around $10.70, and analysts currently rate the stock Hold on average after recent downgrades and new coverage.
Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 861,500 shares of the firm's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $10.48, for a total transaction of $9,028,520.00. Following the sale, the director directly owned 902,646 shares in the company, valued at approximately $9,459,730.08. The trade was a 48.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
De Lima Filho Pedro Batista also recently made the following trade(s):
- On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.74, for a total transaction of $7,156,062.00.
- On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.05, for a total transaction of $7,148,245.00.
- On Friday, May 8th, De Lima Filho Pedro Batista sold 3,938,700 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.86, for a total transaction of $46,712,982.00.
- On Friday, May 8th, De Lima Filho Pedro Batista purchased 3,656,500 shares of Brazilian Electric Power stock. The stock was purchased at an average price of $11.90 per share, for a total transaction of $43,512,350.00.
- On Monday, April 20th, De Lima Filho Pedro Batista sold 1,397,982 shares of Brazilian Electric Power stock. The stock was sold at an average price of $12.54, for a total value of $17,530,694.28.
- On Friday, April 17th, De Lima Filho Pedro Batista sold 1,640,600 shares of Brazilian Electric Power stock. The stock was sold at an average price of $12.46, for a total value of $20,441,876.00.
Brazilian Electric Power Stock Performance
AXIA stock opened at $10.70 on Wednesday. The firm has a market capitalization of $24.07 billion, a PE ratio of 267.40, a PEG ratio of 1.56 and a beta of 0.52. Brazilian Electric Power Co has a 1 year low of $6.71 and a 1 year high of $13.54. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.52.
Hedge Funds Weigh In On Brazilian Electric Power
Large investors have recently made changes to their positions in the business. Traveka Wealth LLC purchased a new position in shares of Brazilian Electric Power in the first quarter valued at about $118,000. Bank of New York Mellon Corp purchased a new position in shares of Brazilian Electric Power in the first quarter valued at about $150,000. Sequoia Financial Advisors LLC lifted its position in shares of Brazilian Electric Power by 4.5% in the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company's stock valued at $210,000 after acquiring an additional 802 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Brazilian Electric Power by 28.2% in the first quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company's stock valued at $248,000 after acquiring an additional 4,834 shares in the last quarter. Finally, Walleye Capital LLC purchased a new position in shares of Brazilian Electric Power in the first quarter valued at about $274,000. 2.64% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Brazilian Electric Power from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings assumed coverage on shares of Brazilian Electric Power in a report on Tuesday, April 7th. They issued a "hold (c)" rating on the stock. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold".
Check Out Our Latest Analysis on AXIA
About Brazilian Electric Power
(
Get Free Report)
Centrais Elétricas Brasileiras SA - Eletrobras, through its subsidiaries, engages in the generation, transmission, and distribution of electricity in Brazil. The company generates electricity through hydroelectric, thermal, nuclear, wind, and solar plants. As of December 31, 2020, it owned and operated 31 hydroelectric plants with a total installed capacity of 50,648 megawatts; seven thermal plants, including coal, and oil and gas power generation units with a total installed capacity of 1,595 megawatts; and two nuclear power plants comprising Angra I with an installed capacity of 640 megawatts and Angra II with an installed capacity of 1,350 megawatts.
Further Reading
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