De Lima Filho Pedro Batista Sells 666,300 Shares of Brazilian Electric Power (NYSE:AXIA) Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 666,300 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $10.74, for a total transaction of $7,156,062.00. Following the transaction, the director owned 1,027,846 shares in the company, valued at $11,039,066.04. This represents a 39.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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 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 shares were 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, for a total transaction 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 shares were 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 Performance

Shares of NYSE:AXIA traded down $0.26 on Friday, reaching $10.83. 2,963,944 shares of the company’s stock were exchanged, compared to its average volume of 2,368,530. 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 PE ratio of 270.85, a PEG ratio of 1.58 and a beta of 0.52. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52.

Analyst Ratings Changes

AXIA has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Brazilian Electric Power from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings initiated coverage on shares of Brazilian Electric Power in a research report on Tuesday, April 7th. They set a “hold (c)” rating on the stock. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Brazilian Electric Power currently has an average rating of “Hold”.

Hedge Funds Weigh In On Brazilian Electric Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted 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 valued at $210,000 after purchasing an additional 802 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Brazilian Electric Power by 1.8% in 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 lifted its stake in Brazilian Electric Power by 28.2% in 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 Brazilian Electric Power in the 1st quarter valued at approximately $118,000. Finally, Cetera Investment Advisers lifted its stake in Brazilian Electric Power by 53.6% in 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.