Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells 460,000 Shares

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 460,000 shares of Brazilian Electric Power stock in a transaction on Wednesday, June 17th. The shares were sold at an average price of $10.16, for a total value 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 approximately $47,042,456.08. This trade represents a 9.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed 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 stock was sold at an average price of $9.90, for a total value of $3,960,000.00.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista bought 45,000 shares of Brazilian Electric Power stock. The shares were bought 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 shares were sold at an average price of $9.88, for a total value 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 acquired 1,234,900 shares of Brazilian Electric Power stock. The stock was purchased at an average price of $10.78 per share, with a total value 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 transaction of $2,450,778.00.
• On Friday, May 22nd, De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power stock. The shares were 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.

Brazilian Electric Power Stock Performance

NYSE AXIA traded up $0.36 on Monday, hitting $10.35. The stock had a trading volume of 739,017 shares, compared to its average volume of 2,306,658. Brazilian Electric Power Co has a 52-week low of $6.71 and a 52-week high of $13.54. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $23.28 billion, a P/E ratio of 57.49, a price-to-earnings-growth ratio of 1.44 and a beta of 0.46. The business has a 50-day moving average of $11.37.

Hedge Funds Weigh In On Brazilian Electric Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Traveka Wealth LLC bought a new position in shares of Brazilian Electric Power in the 1st quarter worth $118,000. Bank of New York Mellon Corp purchased a new stake in shares of Brazilian Electric Power during the 1st quarter valued at $150,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Brazilian Electric Power by 4.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company’s stock worth $210,000 after acquiring an additional 802 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings 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 worth $248,000 after acquiring an additional 4,834 shares during the last quarter. Finally, Walleye Capital LLC purchased a new position in Brazilian Electric Power in the first quarter worth $274,000. Hedge funds and other institutional investors own 2.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Weiss Ratings started coverage on Brazilian Electric Power in a research report on Tuesday, April 7th. They issued a “hold (c)” rating on the stock. Wall Street Zen upgraded Brazilian Electric Power from a “hold” rating to a “buy” rating in a research report on Saturday, May 30th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

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.