Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells 714,500 Shares of Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $10.40, for a total transaction of $7,430,800.00. Following the sale, the director owned 558,346 shares in the company, valued at $5,806,798.40. This represents a 56.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Wednesday, May 20th, De Lima Filho Pedro Batista sold 941,500 shares of Brazilian Electric Power stock. The shares were 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 shares were sold at an average price of $10.51, for a total transaction of $7,895,112.00.
• On Monday, May 18th, De Lima Filho Pedro Batista purchased 49,600 shares of Brazilian Electric Power stock. The stock was bought at an average price of $11.27 per share, with a total value of $558,992.00.
• On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.48, for a total transaction of $9,028,520.00.
• On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.74, for a total transaction of $7,156,062.00.
• On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The stock was sold at an average price of $11.05, for a total transaction 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 stock was sold at an average price of $11.86, for a total transaction of $46,712,982.00.
• On Friday, May 8th, De Lima Filho Pedro Batista purchased 3,656,500 shares of Brazilian Electric Power stock. The stock was bought 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 transaction 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 transaction of $20,441,876.00.

Brazilian Electric Power Stock Down 2.0%

Shares of NYSE:AXIA traded down $0.22 during midday trading on Tuesday, reaching $10.55. The company had a trading volume of 1,657,184 shares, compared to its average volume of 2,323,454. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.52. The firm has a market cap of $23.74 billion, a PE ratio of 58.61, a price-to-earnings-growth ratio of 1.55 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.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Brazilian Electric Power

A number of hedge funds have recently added to or reduced their stakes in AXIA. Kapitalo Investimentos Ltda boosted its holdings 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 purchasing an additional 111,448 shares during the period. Sei Investments Co. acquired a new position in Brazilian Electric Power in the first quarter worth $461,000. Measured Wealth Private Client Group LLC acquired a new position in Brazilian Electric Power in the first quarter worth $323,000. D.A. Davidson & CO. acquired a new position in Brazilian Electric Power in the first quarter worth $312,000. Finally, Walleye Capital LLC acquired a new position in Brazilian Electric Power in the first quarter worth $274,000. 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.