Brazilian Electric Power (NYSE:AXIA) Rating Lowered to Buy at Wall Street Zen

Brazilian Electric Power (NYSE:AXIA) was downgraded by analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Brazilian Electric Power in a report on Monday, July 6th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Brazilian Electric Power Stock Performance

AXIA stock opened at $9.79 on Friday. The business’s 50 day moving average price is $10.43. The firm has a market cap of $27.70 billion, a P/E ratio of 54.36, a P/E/G ratio of 1.39 and a beta of 0.45. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.52. Brazilian Electric Power has a fifty-two week low of $6.71 and a fifty-two week high of $13.54.

Insider Buying and Selling at Brazilian Electric Power

In other Brazilian Electric Power news, Director De Lima Filho Pedro Batista sold 3,938,700 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $11.86, for a total transaction of $46,712,982.00. Following the sale, the director owned 122,350 shares of the company’s stock, valued at $1,451,071. The trade was a 96.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders have bought 5,348,600 shares of company stock valued at $61,580,840 and have sold 16,278,782 shares valued at $178,154,557.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Traveka Wealth LLC purchased a new stake in shares of Brazilian Electric Power in the 1st quarter valued at $118,000. Bank of New York Mellon Corp purchased a new position in Brazilian Electric Power in the 1st quarter worth $150,000. Sequoia Financial Advisors LLC lifted its stake in Brazilian Electric Power by 4.5% in the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company’s stock worth $210,000 after purchasing an additional 802 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Brazilian Electric Power by 28.2% in the first quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company’s stock worth $248,000 after purchasing an additional 4,834 shares during the last quarter. Finally, Walleye Capital LLC purchased a new stake in Brazilian Electric Power during the first quarter valued at about $274,000. Hedge funds and other institutional investors 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.