Brazilian Electric Power (NYSE:AXIA) Cut to “Buy” at Wall Street Zen

Wall Street Zen lowered shares of Brazilian Electric Power (NYSE:AXIA) from a strong-buy rating to a buy rating in a report released on Saturday.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Brazilian Electric Power in a research note on Monday, July 6th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of “Hold”.

Brazilian Electric Power Price Performance

Shares of Brazilian Electric Power stock opened at $9.93 on Friday. 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 has a 1 year low of $6.71 and a 1 year high of $13.54. The company has a market capitalization of $28.10 billion, a price-to-earnings ratio of 55.14, a PEG ratio of 1.41 and a beta of 0.45. The company’s 50 day moving average is $10.39.

Insider Activity

In related news, Director De Lima Filho Pedro Batista sold 293,200 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $10.04, for a total transaction of $2,943,728.00. Following the transaction, the director directly owned 4,464,519 shares in the company, valued at $44,823,770.76. This trade represents a 6.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have acquired 5,348,600 shares of company stock valued at $61,580,840 and have sold 14,880,800 shares valued at $160,623,863.

Hedge Funds Weigh In On Brazilian Electric Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. purchased a new position in Brazilian Electric Power during the 1st quarter valued at $461,000. Cetera Investment Advisers lifted its position in shares of Brazilian Electric Power by 53.6% in the 1st quarter. Cetera Investment Advisers now owns 37,934 shares of the company’s stock worth $428,000 after purchasing an additional 13,237 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Brazilian Electric Power in the 1st quarter worth about $150,000. Sanctuary Advisors LLC boosted its stake 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 purchasing an additional 4,834 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Brazilian Electric Power by 1.8% during 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 in the last quarter. Institutional investors own 2.64% of the company’s stock.

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.