Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Stock Passes Below 200-Day Moving Average – Here’s What Happened

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.10 and traded as low as $6.70. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $6.74, with a volume of 1,693,805 shares trading hands.

Analysts Set New Price Targets

EBR has been the subject of several recent analyst reports. Hsbc Global Res upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “hold” rating to a “buy” rating in a report on Monday, September 23rd.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Up 0.8 %

The firm has a market capitalization of $15.28 billion, a price-to-earnings ratio of 9.35, a price-to-earnings-growth ratio of 2.09 and a beta of 1.09. The firm’s 50 day moving average is $7.19 and its 200 day moving average is $7.09. The company has a quick ratio of 2.33, a current ratio of 2.35 and a debt-to-equity ratio of 0.54.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last released its earnings results on Thursday, August 8th. The utilities provider reported $0.14 EPS for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 13.37% and a return on equity of 4.18%. The business had revenue of $1.61 billion during the quarter. Equities analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current year.

Institutional Trading of Centrais Elétricas Brasileiras S.A. – Eletrobrás

Several institutional investors and hedge funds have recently added to or reduced their stakes in EBR. Beck Bode LLC lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% in the 2nd quarter. Beck Bode LLC now owns 1,766,440 shares of the utilities provider’s stock valued at $11,358,000 after acquiring an additional 1,652,075 shares in the last quarter. Millennium Management LLC lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% in the 2nd quarter. Millennium Management LLC now owns 1,580,932 shares of the utilities provider’s stock valued at $10,165,000 after acquiring an additional 1,100,233 shares in the last quarter. Barings LLC lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 226.6% in the 1st quarter. Barings LLC now owns 993,886 shares of the utilities provider’s stock valued at $8,299,000 after acquiring an additional 689,593 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 503,475 shares of the utilities provider’s stock valued at $3,358,000 after acquiring an additional 8,975 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 7.0% in the 2nd quarter. American Century Companies Inc. now owns 395,550 shares of the utilities provider’s stock valued at $2,543,000 after acquiring an additional 26,010 shares in the last quarter. 6.54% of the stock is owned by institutional investors and hedge funds.

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.