Brazilian Electric Power (NYSE:AXIA) Director Sells $7,156,062.00 in Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 666,300 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $10.74, for a total value of $7,156,062.00. Following the sale, the director owned 1,027,846 shares of the company’s stock, valued at approximately $11,039,066.04. The trade was a 39.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.05, for a total value of $7,148,245.00.
• On Friday, May 8th, De Lima Filho Pedro Batista sold 3,938,700 shares of Brazilian Electric Power stock. The shares were 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 acquired 3,656,500 shares of Brazilian Electric Power stock. The shares were acquired 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 Stock Performance

Shares of AXIA stock opened at $10.83 on Monday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. 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 $24.38 billion, a P/E ratio of 270.85, a price-to-earnings-growth ratio of 1.56 and a beta of 0.52.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Brazilian Electric Power

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. acquired a new position in Brazilian Electric Power in the 1st quarter worth about $461,000. Walleye Capital LLC acquired a new position in Brazilian Electric Power in the 1st quarter worth about $274,000. Cetera Investment Advisers increased its holdings in Brazilian Electric Power by 53.6% in the 1st quarter. Cetera Investment Advisers now owns 37,934 shares of the company’s stock worth $428,000 after purchasing an additional 13,237 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new stake in shares of Brazilian Electric Power in the first quarter valued at about $323,000. Finally, Kapitalo Investimentos Ltda increased its stake in shares of Brazilian Electric Power by 146.9% in the first quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company’s stock valued at $2,113,000 after buying an additional 111,448 shares during the period. Institutional investors and hedge funds 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.