Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells $5,486,364.00 in Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 555,300 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $9.88, for a total value of $5,486,364.00. Following the sale, the director directly owned 120,100 shares in the company, valued at approximately $1,186,588. This trade represents a 82.22% decrease in their position. The transaction was disclosed in a 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 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 value 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, for a total transaction of $477,000.00.
• On Friday, May 29th, De Lima Filho Pedro Batista sold 2,249,200 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.43, for a total value of $23,459,156.00.
• On Friday, May 29th, De Lima Filho Pedro Batista bought 1,234,900 shares of Brazilian Electric Power stock. The shares were bought 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 stock was 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 stock was 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 stock was 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 stock was 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 shares were bought at an average cost of $11.27 per share, with a total value of $558,992.00.
• On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.48, for a total value of $9,028,520.00.

Brazilian Electric Power Stock Down 1.7%

Shares of NYSE:AXIA opened at $9.82 on Friday. The company has a market cap of $22.09 billion, a price-to-earnings ratio of 54.53, a P/E/G ratio of 1.44 and a beta of 0.46. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.11 and a current ratio of 2.11. Brazilian Electric Power Co has a 12-month low of $6.71 and a 12-month high of $13.54. The stock’s fifty day moving average is $11.70.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in AXIA. Traveka Wealth LLC acquired a new position in Brazilian Electric Power during the 1st quarter worth approximately $118,000. Sequoia Financial Advisors LLC raised its stake in Brazilian Electric Power by 4.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company’s stock worth $210,000 after buying an additional 802 shares during the period. Principal Financial Group Inc. raised its stake in Brazilian Electric Power by 1.8% during 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. Sanctuary Advisors LLC raised its stake in Brazilian Electric Power by 28.2% during the 1st quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company’s stock worth $248,000 after buying an additional 4,834 shares during the period. Finally, Bank of New York Mellon Corp acquired a new position in Brazilian Electric Power during the 1st quarter worth approximately $150,000. 2.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXIA has been the subject of several analyst reports. Weiss Ratings initiated coverage on Brazilian Electric Power in a research report on Tuesday, April 7th. They set a “hold (c)” rating for the company. Wall Street Zen raised Brazilian Electric Power from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. One investment analyst has rated the stock with a Hold rating, According to 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.