Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells 2,249,200 Shares of Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 2,249,200 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $10.43, for a total value of $23,459,156.00. Following the completion of the sale, the director directly owned 53,152 shares in the company, valued at approximately $554,375.36. The trade was a 97.69% decrease in their position. The transaction 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 Friday, May 29th, De Lima Filho Pedro Batista bought 1,234,900 shares of Brazilian Electric Power stock. The stock was bought at an average cost 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 value of $2,450,778.00.
• On Friday, May 22nd, De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.40, for a total value of $7,430,800.00.
• 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 value 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 value of $7,895,112.00.
• On Monday, May 18th, De Lima Filho Pedro Batista bought 49,600 shares of Brazilian Electric Power stock. The stock was bought at an average cost of $11.27 per share, for a total transaction of $558,992.00.
• On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.48, for a total value of $9,028,520.00.
• 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.

Brazilian Electric Power Price Performance

AXIA stock traded up $0.20 on Tuesday, reaching $10.37. The company had a trading volume of 2,779,088 shares, compared to its average volume of 2,352,793. Brazilian Electric Power Co has a 1 year low of $6.71 and a 1 year high of $13.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.11 and a current ratio of 2.11. The firm has a market cap of $23.33 billion, a P/E ratio of 57.58, a PEG ratio of 1.49 and a beta of 0.46.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Traveka Wealth LLC acquired a new stake in shares of Brazilian Electric Power during the 1st quarter worth $118,000. Bank of New York Mellon Corp acquired a new stake in Brazilian Electric Power in the 1st quarter valued at $150,000. Sequoia Financial Advisors LLC increased its holdings 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 in the last quarter. Sanctuary Advisors LLC increased its holdings 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 in the last quarter. Finally, Walleye Capital LLC acquired a new stake in Brazilian Electric Power in the 1st quarter valued at $274,000. 2.64% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.