Brazilian Electric Power (NYSE:AXIA) Downgraded by Wall Street Zen to “Buy”

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

Separately, Weiss Ratings restated 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 has a consensus rating of “Hold”.

Brazilian Electric Power Trading Up 1.0%

Shares of Brazilian Electric Power stock opened at $9.79 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 has a 12-month low of $6.71 and a 12-month high of $13.54. The stock has a market cap of $27.70 billion, a P/E ratio of 54.36, a P/E/G ratio of 1.39 and a beta of 0.45. The firm’s fifty day moving average is $10.43.

Insider Activity at Brazilian Electric Power

In other Brazilian Electric Power news, Director De Lima Filho Pedro Batista sold 293,200 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $10.04, for a total value of $2,943,728.00. Following the transaction, the director directly owned 4,464,519 shares of the company’s stock, valued at approximately $44,823,770.76. This trade represents a 6.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders acquired 5,348,600 shares of company stock valued at $61,580,840 and sold 16,278,782 shares valued at $178,154,557.

Institutional Trading of Brazilian Electric Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Traveka Wealth LLC purchased a new stake in Brazilian Electric Power in the 1st quarter worth approximately $118,000. Sequoia Financial Advisors LLC lifted its holdings in Brazilian Electric Power by 4.5% during 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 in the last quarter. Principal Financial Group Inc. lifted its holdings in Brazilian Electric Power by 1.8% during the first quarter. Principal Financial Group Inc. now owns 89,314 shares of the company’s stock valued at $1,007,000 after purchasing an additional 1,559 shares in the last quarter. Sanctuary Advisors LLC boosted its position in shares of Brazilian Electric Power by 28.2% in the first quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company’s stock worth $248,000 after purchasing an additional 4,834 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Brazilian Electric Power in the first quarter worth approximately $150,000. Hedge funds and other institutional investors own 2.64% of the company’s stock.

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.