Brazilian Electric Power (NYSE:AXIA) Director De Lima Filho Pedro Batista Sells 3,938,700 Shares

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 3,938,700 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $11.86, for a total value of $46,712,982.00. Following the sale, the director directly owned 122,350 shares in the company, valued at approximately $1,451,071. This trade represents a 96.99% 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 Friday, May 8th, De Lima Filho Pedro Batista bought 3,656,500 shares of Brazilian Electric Power stock. The stock was purchased at an average cost of $11.90 per share, with a total value of $43,512,350.00.
• On Monday, April 20th, De Lima Filho Pedro Batista sold 1,397,982 shares of Brazilian Electric Power stock. The shares were sold at an average price of $12.54, for a total value of $17,530,694.28.
• On Friday, April 17th, De Lima Filho Pedro Batista sold 1,640,600 shares of Brazilian Electric Power stock. The shares were sold at an average price of $12.46, for a total value of $20,441,876.00.

Brazilian Electric Power Stock Performance

Shares of NYSE:AXIA traded up $0.06 during midday trading on Tuesday, hitting $11.74. 1,693,077 shares of the stock were exchanged, compared to its average volume of 2,370,774. Brazilian Electric Power Co has a 12 month low of $6.71 and a 12 month high of $13.54. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.52. The stock has a market cap of $26.43 billion, a P/E ratio of 22.58, a price-to-earnings-growth ratio of 1.73 and a beta of 0.52.

Institutional Trading of Brazilian Electric Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp purchased a new stake in Brazilian Electric Power during the first quarter worth about $150,000. Principal Financial Group Inc. boosted its stake in Brazilian Electric Power by 1.8% in the first quarter. Principal Financial Group Inc. now owns 89,314 shares of the company’s stock valued at $1,007,000 after acquiring an additional 1,559 shares during the last quarter. Sanctuary Advisors LLC grew its position in shares of Brazilian Electric Power by 28.2% during the 1st quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company’s stock valued at $248,000 after acquiring an additional 4,834 shares during the period. D.A. Davidson & CO. purchased a new position in Brazilian Electric Power in the first quarter valued at approximately $312,000. Finally, Sequoia Financial Advisors LLC grew its holdings in 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 during the period. Institutional investors own 2.64% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on AXIA shares. Weiss Ratings started coverage on Brazilian Electric Power in a report on Tuesday, April 7th. They set a “hold (c)” rating on the stock. Wall Street Zen lowered shares of Brazilian Electric Power from a “buy” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Brazilian Electric Power currently 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.