Brazilian Electric Power (NYSE:AXIA) Director De Lima Filho Pedro Batista Sells 30,200 Shares

Key Points

• Director De Lima Filho Pedro Batista sold 30,200 shares of Brazilian Electric Power (NYSE:AXIA) on June 10 at an average price of $9.59, worth about $289,618. His direct stake fell 7.59% to 367,727 shares.
• The director has been highly active in recent insider trading, with multiple large buys and sells in early June and late May, including a sale of 2.25 million shares on May 29 and a purchase of 1.23 million shares the same day.
• AXIA shares were down slightly to $10.28, and Wall Street sentiment remains cautious overall with an average Hold rating, despite one recent upgrade from Hold to Buy by Wall Street Zen.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 30,200 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $9.59, for a total value of $289,618.00. Following the completion of the sale, the director directly owned 367,727 shares of the company's stock, valued at $3,526,501.93. The trade was a 7.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

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

• On Wednesday, June 3rd, De Lima Filho Pedro Batista sold 400,000 shares of Brazilian Electric Power stock. The shares were 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 purchased 45,000 shares of Brazilian Electric Power stock. The stock was 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 shares were sold at an average price of $10.43, for a total value of $23,459,156.00.
• On Friday, May 29th, De Lima Filho Pedro Batista purchased 1,234,900 shares of Brazilian Electric Power stock. The stock was bought at an average cost 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 value 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 value of $7,430,800.00.
• On Wednesday, May 20th, De Lima Filho Pedro Batista sold 941,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.60, for a total value of $9,979,900.00.
• On Monday, May 18th, De Lima Filho Pedro Batista sold 751,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.51, for a total value of $7,895,112.00.
• On Monday, May 18th, De Lima Filho Pedro Batista purchased 49,600 shares of Brazilian Electric Power stock. The stock was bought at an average cost of $11.27 per share, with a total value of $558,992.00.

Brazilian Electric Power Stock Down 0.1%

NYSE AXIA traded down $0.02 on Friday, reaching $10.28. The company had a trading volume of 1,948,888 shares, compared to its average volume of 2,322,498. The stock has a market capitalization of $23.13 billion, a PE ratio of 57.08, a P/E/G ratio of 1.40 and a beta of 0.46. The business has a fifty day moving average price of $11.54. 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.

Wall Street Analysts Forecast Growth

AXIA has been the subject of several research analyst reports. Weiss Ratings initiated coverage on Brazilian Electric Power in a research report on Tuesday, April 7th. They set a "hold (c)" rating for the company. Wall Street Zen raised 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, Based on data from MarketBeat.com, the company presently has an average rating of "Hold".

Institutional Trading of Brazilian Electric Power

Several hedge funds have recently made changes to their positions in AXIA. Traveka Wealth LLC bought a new position in shares of Brazilian Electric Power during the 1st quarter worth $118,000. Sequoia Financial Advisors LLC raised its stake in Brazilian Electric Power by 4.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company's stock valued at $210,000 after acquiring an additional 802 shares during the period. Principal Financial Group Inc. lifted its holdings in Brazilian Electric Power by 1.8% during the first quarter. Principal Financial Group Inc. now owns 89,314 shares of the company's stock valued at $1,007,000 after purchasing an additional 1,559 shares during the last quarter. Sanctuary Advisors LLC boosted its position in Brazilian Electric Power by 28.2% during the first quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company's stock worth $248,000 after purchasing an additional 4,834 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Brazilian Electric Power in the first quarter worth about $150,000. 2.64% of the stock is currently owned by institutional investors.

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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