De Lima Filho Pedro Batista Sells 597,500 Shares of Brazilian Electric Power (NYSE:AXIA) Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 597,500 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $10.13, for a total transaction of $6,052,675.00. Following the transaction, the director directly owned 4,687,963 shares of the company’s stock, valued at approximately $47,489,065.19. This trade represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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 shares were 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 acquired 45,000 shares of Brazilian Electric Power stock. The shares were purchased 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 shares were 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 shares were 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 purchased at an average cost of $10.78 per share, with a total value 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 shares were sold at an average price of $10.40, for a total transaction of $7,430,800.00.
• On Wednesday, May 20th, De Lima Filho Pedro Batista sold 941,500 shares of Brazilian Electric Power stock. The stock was 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 stock was sold at an average price of $10.51, for a total transaction of $7,895,112.00.

Brazilian Electric Power Price Performance

AXIA stock traded up $0.21 during trading on Wednesday, reaching $10.63. The company had a trading volume of 748,772 shares, compared to its average volume of 2,299,134. Brazilian Electric Power Co has a 52 week low of $6.71 and a 52 week high of $13.54. The stock has a market cap of $23.91 billion, a P/E ratio of 59.03, a P/E/G ratio of 1.51 and a beta of 0.46. The business’s 50 day moving average price is $11.47. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.11 and a current ratio of 2.11.

Hedge Funds Weigh In On Brazilian Electric Power

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sequoia Financial Advisors LLC increased its stake in shares of Brazilian Electric Power by 4.5% during the first 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. Principal Financial Group Inc. increased its stake in shares of 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 purchasing an additional 1,559 shares in the last quarter. Sanctuary Advisors LLC increased its stake in shares of Brazilian Electric Power by 28.2% during the first 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. Traveka Wealth LLC purchased a new stake in shares of Brazilian Electric Power during the first quarter valued at approximately $118,000. Finally, Cetera Investment Advisers grew its holdings 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. Institutional investors own 2.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on AXIA shares. Weiss Ratings started coverage on shares of Brazilian Electric Power in a research note on Tuesday, April 7th. They issued a “hold (c)” rating for the company. Wall Street Zen raised shares of Brazilian Electric Power from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company 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.