Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells $7,148,245.00 in Stock

Brazilian Electric Power Co (NYSE:AXIA) Director De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $11.05, for a total value of $7,148,245.00. Following the completion of the sale, the director directly owned 1,120,646 shares in the company, valued at approximately $12,383,138.30. This represents a 36.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

De Lima Filho Pedro Batista also recently made the following trade(s):

• On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.74, for a total value of $7,156,062.00.
• On Friday, May 8th, De Lima Filho Pedro Batista sold 3,938,700 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.86, for a total value of $46,712,982.00.
• On Friday, May 8th, De Lima Filho Pedro Batista bought 3,656,500 shares of Brazilian Electric Power stock. The stock was purchased at an average cost of $11.90 per share, for a total transaction of $43,512,350.00.
• On Monday, April 20th, De Lima Filho Pedro Batista sold 1,397,982 shares of Brazilian Electric Power stock. The stock was sold at an average price of $12.54, for a total value of $17,530,694.28.
• On Friday, April 17th, De Lima Filho Pedro Batista sold 1,640,600 shares of Brazilian Electric Power stock. The stock was sold at an average price of $12.46, for a total value of $20,441,876.00.

Brazilian Electric Power Stock Down 2.3%

NYSE:AXIA opened at $10.83 on Friday. The company has a market cap of $24.38 billion, a price-to-earnings ratio of 270.85, a P/E/G ratio of 1.60 and a beta of 0.52. Brazilian Electric Power Co has a twelve month low of $6.71 and a twelve month high of $13.54. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.52.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AXIA. Weiss Ratings initiated coverage on Brazilian Electric Power in a research report on Tuesday, April 7th. They set a “hold (c)” rating on the stock. Wall Street Zen lowered Brazilian Electric Power from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in AXIA. Traveka Wealth LLC acquired a new position in shares of Brazilian Electric Power during the 1st quarter worth approximately $118,000. Sequoia Financial Advisors LLC increased 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. Principal Financial Group Inc. increased its holdings 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 worth $1,007,000 after acquiring an additional 1,559 shares during the last quarter. Sanctuary Advisors LLC increased 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, Bank of New York Mellon Corp acquired a new position in shares of Brazilian Electric Power during the 1st quarter worth approximately $150,000. 2.64% of the stock is owned by institutional investors and hedge funds.

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.