Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells $5,052,395.00 in Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 478,900 shares of the business’s stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $10.55, for a total value of $5,052,395.00. Following the transaction, the director directly owned 4,649,910 shares of the company’s stock, valued at $49,056,550.50. The trade was a 9.34% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, June 17th, De Lima Filho Pedro Batista sold 460,000 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.16, for a total transaction of $4,673,600.00.
• On Monday, June 15th, De Lima Filho Pedro Batista sold 597,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.13, for a total transaction of $6,052,675.00.
• On Wednesday, June 10th, De Lima Filho Pedro Batista sold 30,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $9.59, for a total transaction of $289,618.00.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista sold 400,000 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.90, for a total transaction of $3,960,000.00.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista purchased 45,000 shares of Brazilian Electric Power stock. The stock was bought at an average cost of $10.60 per share, with a total value of $477,000.00.
• On Monday, June 1st, De Lima Filho Pedro Batista sold 555,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.88, for a total transaction of $5,486,364.00.
• On Friday, May 29th, De Lima Filho Pedro Batista sold 2,249,200 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.43, for a total transaction of $23,459,156.00.
• On Friday, May 29th, De Lima Filho Pedro Batista acquired 1,234,900 shares of Brazilian Electric Power stock. The shares were bought at an average price of $10.78 per share, for a total transaction of $13,312,222.00.
• On Monday, May 25th, De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.46, for a total transaction of $2,450,778.00.
• On Friday, May 22nd, De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.40, for a total transaction of $7,430,800.00.

Brazilian Electric Power Stock Performance

Shares of NYSE:AXIA opened at $10.37 on Friday. Brazilian Electric Power Co has a 52-week low of $6.71 and a 52-week high of $13.54. The stock has a fifty day moving average of $10.87. The stock has a market capitalization of $29.35 billion, a price-to-earnings ratio of 57.58, a PEG ratio of 1.49 and a beta of 0.45. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 2.11.

Hedge Funds Weigh In On Brazilian Electric Power

Several institutional investors and hedge funds have recently made changes to their positions in the business. Kapitalo Investimentos Ltda raised its position in Brazilian Electric Power by 146.9% in the 1st 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. Principal Financial Group Inc. boosted its position 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 buying an additional 1,559 shares during the period. Sei Investments Co. purchased a new stake in Brazilian Electric Power during the first quarter valued at about $461,000. Cetera Investment Advisers grew its stake in shares of Brazilian Electric Power by 53.6% during the first quarter. Cetera Investment Advisers now owns 37,934 shares of the company’s stock valued at $428,000 after buying an additional 13,237 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Brazilian Electric Power during the first quarter valued at about $323,000. Institutional investors own 2.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on AXIA. Weiss Ratings assumed coverage on Brazilian Electric Power in a research note on Tuesday, April 7th. They set a “hold (c)” rating for the company. Wall Street Zen upgraded Brazilian Electric Power from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Brazilian Electric Power has a consensus rating of “Hold”.

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.