Brazilian Electric Power (NYSE:AXIA) Director De Lima Filho Pedro Batista Sells 646,900 Shares of Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 646,900 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $11.05, for a total value of $7,148,245.00. Following the completion of the sale, the director owned 1,120,646 shares of the company’s stock, valued at approximately $12,383,138.30. This represents a 36.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• 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 stock was bought 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.
• 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 Trading Down 6.4%

NYSE:AXIA opened at $10.99 on Thursday. Brazilian Electric Power Co has a twelve month low of $6.71 and a twelve month high of $13.54. The firm has a market cap of $24.72 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.69 and a beta of 0.52. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52.

Hedge Funds Weigh In On Brazilian Electric Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Traveka Wealth LLC purchased a new position in Brazilian Electric Power in the first quarter valued at about $118,000. Bank of New York Mellon Corp purchased a new position in Brazilian Electric Power in the first quarter valued at about $150,000. Sequoia Financial Advisors LLC grew its stake in 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 purchasing an additional 802 shares during the last quarter. Sanctuary Advisors LLC grew its stake in 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 purchasing an additional 4,834 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Brazilian Electric Power in the first quarter valued at about $274,000. Hedge funds and other institutional investors own 2.64% of the company’s stock.

Analyst Ratings Changes

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

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.