Brazilian Electric Power (NYSE:AXIA) Director Sells $6,052,675.00 in Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 597,500 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $10.13, for a total value of $6,052,675.00. Following the completion of the sale, the director directly owned 4,687,963 shares of the company’s stock, valued at approximately $47,489,065.19. This represents a 11.30% 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 link.

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

• On Wednesday, June 10th, De Lima Filho Pedro Batista sold 30,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $9.59, for a total value of $289,618.00.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista sold 400,000 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.90, for a total value of $3,960,000.00.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista bought 45,000 shares of Brazilian Electric Power stock. The stock was purchased at an average price of $10.60 per share, with a total value of $477,000.00.
• On Monday, June 1st, De Lima Filho Pedro Batista sold 555,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.88, for a total value of $5,486,364.00.
• On Friday, May 29th, De Lima Filho Pedro Batista sold 2,249,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.43, for a total value of $23,459,156.00.
• On Friday, May 29th, De Lima Filho Pedro Batista purchased 1,234,900 shares of Brazilian Electric Power stock. The shares were purchased at an average cost of $10.78 per share, for a total transaction of $13,312,222.00.
• 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 Friday, May 22nd, De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.40, for a total value of $7,430,800.00.
• 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 transaction 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 transaction of $7,895,112.00.

Brazilian Electric Power Price Performance

AXIA stock opened at $9.97 on Friday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio 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’s fifty day simple moving average is $11.37. The company has a market capitalization of $22.43 billion, a price-to-earnings ratio of 55.37, a price-to-earnings-growth ratio of 1.44 and a beta of 0.46.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AXIA. Weiss Ratings initiated coverage on shares of Brazilian Electric Power in a research report on Tuesday, April 7th. They set a “hold (c)” rating for the company. Wall Street Zen raised shares of Brazilian Electric Power from a “hold” rating to a “buy” rating in a report on Saturday, May 30th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AXIA. Kapitalo Investimentos Ltda increased its position in Brazilian Electric Power by 146.9% in the first quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company’s stock worth $2,113,000 after buying an additional 111,448 shares during the period. Cetera Investment Advisers boosted its holdings 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 valued at $428,000 after acquiring an additional 13,237 shares during the period. Bank of New York Mellon Corp acquired a new position in shares of Brazilian Electric Power during the first quarter valued at $150,000. Sei Investments Co. acquired a new position in shares of Brazilian Electric Power during the first quarter valued at $461,000. Finally, Principal Financial Group Inc. grew 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 acquiring an additional 1,559 shares during the last quarter. 2.64% of the stock is currently owned by institutional investors.

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.