Brazilian Electric Power (NYSE:AXIA) Upgraded to “Buy” at Wall Street Zen

Brazilian Electric Power (NYSE:AXIA) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings began coverage on Brazilian Electric Power in a report on Tuesday, April 7th. They set a “hold (c)” rating for the company. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Brazilian Electric Power currently has a consensus rating of “Hold”.

Brazilian Electric Power Stock Down 0.7%

AXIA stock opened at $10.34 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. The stock has a market cap of $23.28 billion, a price-to-earnings ratio of 57.46, a P/E/G ratio of 1.50 and a beta of 0.52. Brazilian Electric Power has a twelve month low of $6.71 and a twelve month high of $13.54.

Insider Activity

In other news, Director De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power stock in a transaction dated Monday, May 25th. The stock was sold at an average price of $10.46, for a total transaction of $2,450,778.00. Following the completion of the sale, the director owned 524,546 shares in the company, valued at approximately $5,486,751.16. This trade represents a 30.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 11,829,057 shares of company stock worth $136,197,423.

Institutional Trading of Brazilian Electric Power

A number of large investors have recently modified their holdings of AXIA. Traveka Wealth LLC bought a new stake in shares of Brazilian Electric Power during the 1st quarter valued at about $118,000. Sequoia Financial Advisors LLC boosted its position in shares of Brazilian Electric Power by 4.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company’s stock valued at $210,000 after acquiring an additional 802 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Brazilian Electric Power by 1.8% during the 1st quarter. Principal Financial Group Inc. now owns 89,314 shares of the company’s stock valued at $1,007,000 after acquiring an additional 1,559 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Brazilian Electric Power by 28.2% during the 1st quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company’s stock valued at $248,000 after acquiring an additional 4,834 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of Brazilian Electric Power during the 1st quarter valued at about $150,000. 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.