Brazilian Electric Power (NYSE:AXIA) Lowered to “Buy” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Brazilian Electric Power (NYSE:AXIA) from a strong-buy rating to a buy rating in a research report sent to investors on Saturday.

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

Brazilian Electric Power Trading Up 1.0%

Shares of NYSE:AXIA opened at $9.79 on Friday. The company’s 50-day moving average is $10.43. Brazilian Electric Power has a 12-month low of $6.71 and a 12-month high of $13.54. The company has a market capitalization of $27.70 billion, a PE ratio of 54.36, a P/E/G ratio of 1.41 and a beta of 0.45. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52.

Insiders Place Their Bets

In other Brazilian Electric Power news, Director De Lima Filho Pedro Batista sold 293,200 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $10.04, for a total value of $2,943,728.00. Following the sale, the director owned 4,464,519 shares of the company’s stock, valued at $44,823,770.76. This trade represents a 6.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have acquired 5,348,600 shares of company stock worth $61,580,840 and have sold 16,278,782 shares worth $178,154,557.

Institutional Trading of Brazilian Electric Power

A number of institutional investors have recently modified their holdings of AXIA. Kapitalo Investimentos Ltda increased its holdings in Brazilian Electric Power by 146.9% during the 1st quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company’s stock valued at $2,113,000 after purchasing an additional 111,448 shares during the period. Principal Financial Group Inc. lifted its holdings 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 worth $1,007,000 after buying an additional 1,559 shares during the period. Sei Investments Co. purchased a new stake in Brazilian Electric Power in the 1st quarter worth approximately $461,000. Cetera Investment Advisers grew its position in shares of Brazilian Electric Power by 53.6% in the 1st quarter. Cetera Investment Advisers now owns 37,934 shares of the company’s stock worth $428,000 after buying an additional 13,237 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new stake in shares of Brazilian Electric Power in the 1st quarter worth approximately $323,000. 2.64% of the stock is currently owned by hedge funds and other institutional investors.

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.