Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells $7,430,800.00 in Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 714,500 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $10.40, for a total value of $7,430,800.00. Following the transaction, the director owned 558,346 shares of the company’s stock, valued at $5,806,798.40. This trade represents a 56.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, May 25th, De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.46, for a total value of $2,450,778.00.
• On Wednesday, May 20th, De Lima Filho Pedro Batista sold 941,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.60, for a total value of $9,979,900.00.
• On Monday, May 18th, De Lima Filho Pedro Batista sold 751,200 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.51, for a total value of $7,895,112.00.
• On Monday, May 18th, De Lima Filho Pedro Batista purchased 49,600 shares of Brazilian Electric Power stock. The shares were acquired at an average price of $11.27 per share, with a total value of $558,992.00.
• On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.48, for a total value of $9,028,520.00.
• On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.74, for a total value of $7,156,062.00.
• On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The stock was sold at an average price of $11.05, for a total value 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 stock was sold at an average price of $11.86, for a total value 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 shares were 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 stock was sold at an average price of $12.54, for a total value of $17,530,694.28.

Brazilian Electric Power Price Performance

AXIA opened at $10.45 on Friday. Brazilian Electric Power Co has a one year low of $6.71 and a one year high of $13.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market capitalization of $23.51 billion, a PE ratio of 58.03, a PEG ratio of 1.50 and a beta of 0.52.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on AXIA. Weiss Ratings began coverage on Brazilian Electric Power in a research note on Tuesday, April 7th. They issued a “hold (c)” rating on the stock. Wall Street Zen downgraded Brazilian Electric Power from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Brazilian Electric Power has a consensus rating of “Hold”.

Institutional Investors Weigh In On Brazilian Electric Power

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Kapitalo Investimentos Ltda raised its position in shares of Brazilian Electric Power by 146.9% during the first quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company’s stock worth $2,113,000 after purchasing an additional 111,448 shares during the period. Principal Financial Group Inc. raised 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 purchasing an additional 1,559 shares during the period. Sei Investments Co. acquired a new stake in shares of Brazilian Electric Power during the first quarter worth $461,000. Cetera Investment Advisers raised its position in shares of Brazilian Electric Power by 53.6% during 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. Finally, Measured Wealth Private Client Group LLC acquired a new stake in shares of Brazilian Electric Power during the first quarter worth $323,000. 2.64% of the stock is owned by institutional investors and hedge funds.

About Brazilian Electric Power

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.