Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Up – Here’s What Happened

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $7.12, but opened at $7.35. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $7.39, with a volume of 94,782 shares traded.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.06. The business’s 50-day moving average is $6.64 and its 200-day moving average is $6.44. The company has a market capitalization of $16.53 billion, a PE ratio of 8.98, a PEG ratio of 4.35 and a beta of 1.00.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last issued its quarterly earnings results on Friday, March 14th. The utilities provider reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). Centrais Elétricas Brasileiras S.A. – Eletrobrás had a return on equity of 9.00% and a net margin of 26.50%. The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $10.17 billion. On average, research analysts anticipate that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Several institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC increased its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 336.5% during the 4th quarter. Millennium Management LLC now owns 4,196,607 shares of the utilities provider’s stock valued at $24,005,000 after purchasing an additional 3,235,114 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter valued at approximately $1,406,000. Two Sigma Investments LP raised its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 230.9% in the 4th quarter. Two Sigma Investments LP now owns 316,380 shares of the utilities provider’s stock worth $1,810,000 after acquiring an additional 220,780 shares during the last quarter. Walleye Capital LLC bought a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 4th quarter valued at approximately $999,000. Finally, Trexquant Investment LP lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 173.4% in the 4th quarter. Trexquant Investment LP now owns 219,079 shares of the utilities provider’s stock valued at $1,253,000 after acquiring an additional 138,951 shares in the last quarter. 2.64% of the stock is currently owned by institutional investors.

About Centrais Elétricas Brasileiras S.A. – Eletrobrás

Centrais Elétricas Brasileiras SA – Eletrobrás, through its subsidiaries, engages in the generation, transmission, and commercialization of electricity in Brazil. The company generates electricity through hydroelectric, thermoelectric, nuclear, wind, and solar plants. As of December 31, 2023, it owned and operated 44 hydroelectric plants with a total capacity of 42,293.5 megawatt (MW); 5 thermal plants, including coal and gas power generation units with a total installed capacity of 1,632 MW; and two nuclear power plants comprising Angra 1 with an installed capacity of 657 MW and Angra 2 with an installed capacity of 1350 MW.