Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells 234,300 Shares of Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power stock in a transaction on Monday, May 25th. The stock was sold at an average price of $10.46, for a total transaction of $2,450,778.00. Following the completion of the transaction, the director owned 524,546 shares in the company, valued at approximately $5,486,751.16. The trade was a 30.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• 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 transaction 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 transaction 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 transaction of $7,895,112.00.
• On Monday, May 18th, De Lima Filho Pedro Batista bought 49,600 shares of Brazilian Electric Power stock. The stock was acquired at an average price of $11.27 per share, for a total transaction of $558,992.00.
• On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.48, for a total transaction of $9,028,520.00.
• On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.74, for a total transaction of $7,156,062.00.
• 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 transaction 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 transaction of $46,712,982.00.
• On Friday, May 8th, De Lima Filho Pedro Batista acquired 3,656,500 shares of Brazilian Electric Power stock. The stock was purchased at an average price of $11.90 per share, for a total transaction 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 transaction of $17,530,694.28.

Brazilian Electric Power Price Performance

Shares of AXIA stock traded down $0.26 during mid-day trading on Wednesday, reaching $10.43. The stock had a trading volume of 2,107,523 shares, compared to its average volume of 2,329,158. Brazilian Electric Power Co has a 52-week low of $6.71 and a 52-week high of $13.54. The stock has a market capitalization of $23.46 billion, a price-to-earnings ratio of 57.97, a PEG ratio of 1.55 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.

Hedge Funds Weigh In On Brazilian Electric Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. purchased a new position in shares of Brazilian Electric Power during the first quarter valued at about $461,000. Walleye Capital LLC purchased a new position in shares of Brazilian Electric Power during the first quarter valued at about $274,000. Cetera Investment Advisers increased its position in shares of Brazilian Electric Power by 53.6% during the first quarter. Cetera Investment Advisers now owns 37,934 shares of the company’s stock valued at $428,000 after buying an additional 13,237 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in shares of Brazilian Electric Power during the first quarter valued at about $323,000. Finally, Kapitalo Investimentos Ltda increased its position in shares of Brazilian Electric Power by 146.9% during the first quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company’s stock valued at $2,113,000 after buying an additional 111,448 shares during the period. Hedge funds and other institutional investors own 2.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen cut shares of Brazilian Electric Power from a “buy” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings assumed coverage on shares of Brazilian Electric Power in a research report on Tuesday, April 7th. They issued a “hold (c)” rating on the stock. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average 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.