Wall Street Zen Downgrades Brazilian Electric Power (NYSE:AXIA) to Buy

Brazilian Electric Power (NYSE:AXIA) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Brazilian Electric Power in a report on Monday, July 6th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Brazilian Electric Power presently has a consensus rating of “Hold”.

Brazilian Electric Power Price Performance

Shares of AXIA stock opened at $9.79 on Friday. The stock has a fifty day moving average price of $10.43. Brazilian Electric Power has a 1 year low of $6.71 and a 1 year high of $13.54. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a market cap of $27.70 billion, a price-to-earnings ratio of 54.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.45.

Insider Activity at Brazilian Electric Power

In other news, Director De Lima Filho Pedro Batista sold 293,200 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $10.04, for a total value of $2,943,728.00. Following the sale, the director owned 4,464,519 shares in the company, valued at $44,823,770.76. This represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have acquired 5,348,600 shares of company stock valued at $61,580,840 and have sold 14,880,800 shares valued at $160,623,863.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Kapitalo Investimentos Ltda lifted its position in Brazilian Electric Power by 146.9% during the first quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company’s stock valued at $2,113,000 after purchasing an additional 111,448 shares during the period. Sei Investments Co. acquired a new stake in Brazilian Electric Power during the 1st quarter worth about $461,000. Measured Wealth Private Client Group LLC acquired a new stake in Brazilian Electric Power during the 1st quarter worth about $323,000. D.A. Davidson & CO. purchased a new position in shares of Brazilian Electric Power during the 1st quarter valued at about $312,000. Finally, Walleye Capital LLC purchased a new position in shares of Brazilian Electric Power during the 1st quarter valued at about $274,000. Hedge funds and other institutional investors own 2.64% of the company’s stock.

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.