Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Sees Significant Growth in Short Interest

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 5,190,000 shares, an increase of 23.6% from the June 15th total of 4,200,000 shares. Based on an average trading volume of 1,140,000 shares, the short-interest ratio is currently 4.6 days.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

EBR stock traded up $0.06 during mid-day trading on Tuesday, reaching $7.20. The company had a trading volume of 405,974 shares, compared to its average volume of 992,511. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.57 and a quick ratio of 1.56. The firm has a fifty day simple moving average of $6.92 and a 200 day simple moving average of $7.82. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a fifty-two week low of $6.21 and a fifty-two week high of $9.11.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last posted its quarterly earnings results on Thursday, May 9th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter. The company had revenue of $1.76 billion for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a return on equity of 4.18% and a net margin of 12.98%. Sell-side analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 EPS for the current fiscal year.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The firm also recently announced an annual dividend, which was paid on Thursday, May 16th. Stockholders of record on Thursday, May 9th were given a dividend of $0.059 per share. This represents a dividend yield of 0.8%. The ex-dividend date was Wednesday, May 8th. This is a positive change from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous annual dividend of $0.04.

Analysts Set New Price Targets

Separately, StockNews.com lowered Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “hold” rating in a research report on Thursday, June 27th.

Institutional Investors Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Several hedge funds and other institutional investors have recently made changes to their positions in EBR. SG Americas Securities LLC raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 18.7% during the 2nd quarter. SG Americas Securities LLC now owns 14,516 shares of the utilities provider’s stock worth $93,000 after acquiring an additional 2,284 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 4th quarter worth about $98,000. Citigroup Inc. raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 81.4% during the 3rd quarter. Citigroup Inc. now owns 13,672 shares of the utilities provider’s stock worth $100,000 after acquiring an additional 6,135 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 115.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 12,529 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 6,704 shares in the last quarter. Finally, First Affirmative Financial Network raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 17.0% during the 4th quarter. First Affirmative Financial Network now owns 13,642 shares of the utilities provider’s stock worth $118,000 after acquiring an additional 1,978 shares in the last quarter. Institutional investors and hedge funds own 6.54% of the company’s stock.

About Centrais Elétricas Brasileiras S.A. – Eletrobrás

Centrais Elétricas Brasileiras SA – Eletrobrás, through its subsidiaries, engages in the generation, transmission, and commercialization of electricity in Brazil. The company generates electricity through hydroelectric, thermoelectric, nuclear, wind, and solar plants. As of December 31, 2023, it owned and operated 44 hydroelectric plants with a total capacity of 42,293.5 megawatt (MW); 5 thermal plants, including coal and gas power generation units with a total installed capacity of 1,632 MW; and two nuclear power plants comprising Angra 1 with an installed capacity of 657 MW and Angra 2 with an installed capacity of 1350 MW.