Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells 666,300 Shares of Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 666,300 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $10.74, for a total transaction of $7,156,062.00. Following the completion of the transaction, the director directly owned 1,027,846 shares of the company’s stock, valued at approximately $11,039,066.04. The trade was a 39.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

De Lima Filho Pedro Batista also recently made the following trade(s):

• 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 acquired at an average price of $11.90 per share, with a total value 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 shares were sold at an average price of $12.54, for a total transaction 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 shares were sold at an average price of $12.46, for a total transaction of $20,441,876.00.

Brazilian Electric Power Trading Down 2.3%

NYSE AXIA traded down $0.26 on Friday, hitting $10.83. The company’s stock had a trading volume of 2,963,944 shares, compared to its average volume of 2,368,530. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.11 and a current ratio of 2.11. Brazilian Electric Power Co has a 1-year low of $6.71 and a 1-year high of $13.54. The stock has a market cap of $24.38 billion, a P/E ratio of 270.85, a price-to-earnings-growth ratio of 1.58 and a beta of 0.52.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wall Street Zen cut shares of Brazilian Electric Power from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings began coverage on shares of Brazilian Electric Power in a research report on Tuesday, April 7th. They set a “hold (c)” rating for the company. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

Institutional Investors Weigh In On Brazilian Electric Power

Several large investors have recently modified their holdings of the company. Sequoia Financial Advisors LLC increased its position in shares of Brazilian Electric Power by 4.5% during the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company’s stock worth $210,000 after buying an additional 802 shares during the period. Principal Financial Group Inc. increased its position in shares of Brazilian Electric Power by 1.8% during the first quarter. Principal Financial Group Inc. now owns 89,314 shares of the company’s stock worth $1,007,000 after buying an additional 1,559 shares during the period. Sanctuary Advisors LLC grew its holdings in Brazilian Electric Power by 28.2% in the first quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company’s stock worth $248,000 after purchasing an additional 4,834 shares during the period. Traveka Wealth LLC acquired a new stake in Brazilian Electric Power in the first quarter worth $118,000. Finally, Cetera Investment Advisers grew its holdings in Brazilian Electric Power by 53.6% in the first quarter. Cetera Investment Advisers now owns 37,934 shares of the company’s stock worth $428,000 after purchasing an additional 13,237 shares during the period. 2.64% of the stock is currently owned by institutional investors and hedge funds.

Brazilian Electric Power Company Profile

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.