De Lima Filho Pedro Batista Sells 460,000 Shares of Brazilian Electric Power (NYSE:AXIA) Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 460,000 shares of Brazilian Electric Power stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $10.16, for a total transaction of $4,673,600.00. Following the completion of the transaction, the director owned 4,630,163 shares of the company’s stock, valued at $47,042,456.08. This trade represents a 9.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, June 15th, De Lima Filho Pedro Batista sold 597,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.13, for a total value of $6,052,675.00.
• On Wednesday, June 10th, De Lima Filho Pedro Batista sold 30,200 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.59, for a total value of $289,618.00.
• 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 transaction 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, with a total value of $477,000.00.
• On Monday, June 1st, De Lima Filho Pedro Batista sold 555,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.88, for a total transaction of $5,486,364.00.
• 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 transaction 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 stock was acquired at an average cost of $10.78 per share, for a total transaction of $13,312,222.00.
• On Monday, May 25th, De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power stock. The shares were 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.

Brazilian Electric Power Stock Performance

AXIA opened at $10.50 on Wednesday. Brazilian Electric Power Co has a one year low of $6.71 and a one year high of $13.54. The stock has a market cap of $23.63 billion, a P/E ratio of 58.33, a P/E/G ratio of 1.48 and a beta of 0.46. 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 firm has a 50-day simple moving average of $11.27.

Analyst Upgrades and Downgrades

Several brokerages have commented on AXIA. Wall Street Zen upgraded shares of Brazilian Electric Power from a “hold” rating to a “buy” rating in a research note on Saturday, May 30th. Weiss Ratings initiated coverage on shares of Brazilian Electric Power in a report on Tuesday, April 7th. They issued a “hold (c)” rating for the company. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Brazilian Electric Power

Several large investors have recently modified their holdings of the company. Traveka Wealth LLC purchased a new position in shares of Brazilian Electric Power during the first quarter worth approximately $118,000. Sequoia Financial Advisors LLC raised its position in Brazilian Electric Power by 4.5% in the 1st 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 last quarter. Principal Financial Group Inc. raised its position 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 valued at $1,007,000 after purchasing an additional 1,559 shares during the last quarter. Sanctuary Advisors LLC boosted 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 purchasing an additional 4,834 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in Brazilian Electric Power during the 1st quarter worth $150,000. 2.64% of the stock is owned by institutional investors and hedge funds.

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.