Brazilian Electric Power (NYSE:AXIA) Director De Lima Filho Pedro Batista Sells 666,300 Shares

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 666,300 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $10.74, for a total value of $7,156,062.00. Following the sale, the director directly owned 1,027,846 shares of the company’s stock, valued at approximately $11,039,066.04. This represents a 39.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.05, for a total value of $7,148,245.00.
• On Friday, May 8th, De Lima Filho Pedro Batista sold 3,938,700 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.86, for a total value of $46,712,982.00.
• On Friday, May 8th, De Lima Filho Pedro Batista bought 3,656,500 shares of Brazilian Electric Power stock. The shares were bought 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 Price Performance

NYSE:AXIA opened at $10.83 on Friday. The firm has a market cap of $24.38 billion, a P/E ratio of 270.85, a price-to-earnings-growth ratio of 1.60 and a beta of 0.52. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.52. Brazilian Electric Power Co has a 1-year low of $6.71 and a 1-year high of $13.54.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AXIA. Kapitalo Investimentos Ltda increased its position in Brazilian Electric Power by 146.9% in the 1st quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company’s stock worth $2,113,000 after purchasing an additional 111,448 shares during the last quarter. Sei Investments Co. acquired a new position in Brazilian Electric Power in the 1st quarter worth about $461,000. Measured Wealth Private Client Group LLC acquired a new position in Brazilian Electric Power in the 1st quarter worth about $323,000. D.A. Davidson & CO. acquired a new position in Brazilian Electric Power in the 1st quarter worth about $312,000. Finally, Walleye Capital LLC acquired a new position in Brazilian Electric Power in the 1st quarter worth about $274,000. 2.64% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AXIA has been the subject of several research analyst reports. Weiss Ratings initiated coverage on Brazilian Electric Power in a research note on Tuesday, April 7th. They issued a “hold (c)” rating for the company. Wall Street Zen downgraded Brazilian Electric Power from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Brazilian Electric Power Company Profile

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.