Brazilian Electric Power (NYSE:AXIA) Director Sells $9,028,520.00 in Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 861,500 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $10.48, for a total value of $9,028,520.00. Following the completion of the sale, the director owned 902,646 shares in the company, valued at $9,459,730.08. This represents a 48.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.74, for a total value of $7,156,062.00.
• 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 stock was purchased 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 shares were sold at an average price of $12.46, for a total value of $20,441,876.00.

Brazilian Electric Power Stock Performance

Brazilian Electric Power stock traded down $0.16 during mid-day trading on Tuesday, reaching $10.72. The stock had a trading volume of 850,395 shares, compared to its average volume of 2,344,539. The stock has a market cap of $24.12 billion, a price-to-earnings ratio of 267.88, a PEG ratio of 1.56 and a beta of 0.52. Brazilian Electric Power Co has a one year low of $6.71 and a one year high of $13.54. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 2.11.

Wall Street Analyst Weigh In

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

Institutional Trading of Brazilian Electric Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC increased its stake in Brazilian Electric Power by 4.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company’s stock worth $210,000 after acquiring an additional 802 shares during the last quarter. Principal Financial Group Inc. increased 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 purchasing an additional 1,559 shares during the last quarter. Sanctuary Advisors LLC increased 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 purchasing an additional 4,834 shares during the last quarter. Traveka Wealth LLC bought a new position in shares of Brazilian Electric Power during the 1st quarter valued at approximately $118,000. Finally, Cetera Investment Advisers increased its position in shares of Brazilian Electric Power by 53.6% during the 1st quarter. Cetera Investment Advisers now owns 37,934 shares of the company’s stock valued at $428,000 after purchasing an additional 13,237 shares during the last quarter. 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.