Brazilian Electric Power (NYSE:AXIA) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen downgraded shares of Brazilian Electric Power (NYSE:AXIA) from a buy rating to a hold rating in a research report sent to investors on Saturday morning.

Separately, Weiss Ratings started coverage on Brazilian Electric Power in a report on Tuesday, April 7th. They set a “hold (c)” rating for the company. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Brazilian Electric Power presently has a consensus rating of “Hold”.

Brazilian Electric Power Trading Up 1.9%

AXIA stock opened at $12.02 on Friday. The stock has a market cap of $27.04 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 1.73 and a beta of 0.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.68 and a quick ratio of 1.68. Brazilian Electric Power has a 1 year low of $6.71 and a 1 year high of $13.54.

Insider Transactions at Brazilian Electric Power

In other news, insider Nascimento Rodrigo Limp sold 15,000 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $12.65, for a total transaction of $189,750.00. Following the completion of the transaction, the insider directly owned 120,775 shares in the company, valued at $1,527,803.75. This represents a 11.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director De Lima Filho Pedro Batista sold 1,640,600 shares of the stock in a transaction dated Friday, April 17th. The stock was sold at an average price of $12.46, for a total transaction of $20,441,876.00. Following the transaction, the director owned 1,146,032 shares of the company’s stock, valued at approximately $14,279,558.72. This represents a 58.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,074,157 shares of company stock worth $38,395,024 in the last three months.

Hedge Funds Weigh In On Brazilian Electric Power

A number of large investors have recently modified their holdings of AXIA. Kapitalo Investimentos Ltda boosted its stake in shares of Brazilian Electric Power by 146.9% during the 1st quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company’s stock worth $2,113,000 after buying an additional 111,448 shares during the last quarter. D.A. Davidson & CO. acquired a new position in shares of Brazilian Electric Power during the 1st quarter worth about $312,000. Bank of New York Mellon Corp acquired a new stake in Brazilian Electric Power in the 1st quarter valued at about $150,000. Traveka Wealth LLC acquired a new stake in Brazilian Electric Power in the 1st quarter valued at about $118,000. Finally, Sanctuary Advisors LLC lifted its stake in Brazilian Electric Power by 28.2% in 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 during the last quarter. 2.64% of the stock is currently owned by institutional investors and hedge funds.

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.