Brazilian Electric Power (NYSE:AXIA) Director De Lima Filho Pedro Batista Sells 1,640,600 Shares

Key Points

• Director Pedro Batista De Lima Filho sold 1,640,600 shares of Brazilian Electric Power (AXIA) on April 17 at an average price of $12.46, generating $20,441,876 in proceeds.
• Following the sale his stake fell to 1,146,032 shares, a 58.87% decrease in his ownership position.
• AXIA traded down 1.0% to $12.78 with below-average volume; the company has a market cap of $28.75 billion and a PE of 19.55, and analyst coverage is mixed (average rating: Hold) despite a recent upgrade to "Buy" by Wall Street Zen.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 1,640,600 shares of the business's 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 completion of the transaction, the director directly 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. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Brazilian Electric Power Trading Down 1.0%

Shares of NYSE AXIA traded down $0.13 during trading on Tuesday, reaching $12.78. The company had a trading volume of 1,033,108 shares, compared to its average volume of 3,171,771. Brazilian Electric Power Co has a 52 week low of $6.71 and a 52 week high of $13.54. The company has a market cap of $28.75 billion, a PE ratio of 19.55, a P/E/G ratio of 1.86 and a beta of 0.53. The company has a current ratio of 1.68, a quick ratio of 1.67 and a debt-to-equity ratio of 0.52.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Brazilian Electric Power from a "hold" rating to a "buy" rating in a research note on Saturday, March 14th. Weiss Ratings assumed coverage on shares of Brazilian Electric Power in a research note 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, the stock has an average rating of "Hold".

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.

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