Brazilian Electric Power (NYSE:AXIA) Director Sells 136,200 Shares of Stock

Key Points

• Director De Lima Filho Pedro Batista sold 136,200 AXIA shares on August 7 at an average price of $10.27, generating $1.40 million. His remaining ownership fell 27.04% to 367,585 shares.
• The sale followed a broader pattern of insider selling in recent months, although the director also purchased 85,200 shares on August 7. Recent disclosed transactions include several large sales totaling millions of dollars.
• AXIA traded near $10.22, with a market capitalization of approximately $28.94 billion. Analysts maintain a consensus “Hold” rating, while institutional investors own 2.64% of the company.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 136,200 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $10.27, for a total transaction of $1,398,774.00. Following the completion of the sale, the director owned 367,585 shares in the company, valued at $3,775,097.95. This represents a 27.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Friday, August 7th, De Lima Filho Pedro Batista acquired 85,200 shares of Brazilian Electric Power stock. The shares were purchased at an average price of $10.25 per share, with a total value of $873,300.00.
• On Wednesday, July 8th, De Lima Filho Pedro Batista sold 293,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.04, for a total transaction of $2,943,728.00.
• On Friday, July 3rd, De Lima Filho Pedro Batista sold 255,800 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.38, for a total transaction of $2,655,204.00.
• On Wednesday, July 1st, De Lima Filho Pedro Batista sold 800,000 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.24, for a total transaction of $8,192,000.00.
• On Wednesday, July 1st, De Lima Filho Pedro Batista acquired 362,600 shares of Brazilian Electric Power stock. The shares were acquired at an average cost of $10.26 per share, for a total transaction of $3,720,276.00.
• On Monday, June 29th, De Lima Filho Pedro Batista sold 478,900 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.55, for a total value of $5,052,395.00.
• On Wednesday, June 17th, De Lima Filho Pedro Batista sold 460,000 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.16, for a total value of $4,673,600.00.
• On Monday, June 15th, De Lima Filho Pedro Batista sold 597,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.13, for a total transaction 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 transaction 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 transaction of $3,960,000.00.

Brazilian Electric Power Price Performance

AXIA stock remained flat at $10.22 during trading hours on Tuesday. The stock has a fifty day moving average price of $10.24. Brazilian Electric Power Co has a 12-month low of $7.55 and a 12-month high of $13.54. The stock has a market cap of $28.94 billion, a PE ratio of 56.78, a price-to-earnings-growth ratio of 3.07 and a beta of 0.47. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.52.

Institutional Investors Weigh In On Brazilian Electric Power

A number of institutional investors have recently modified their holdings of the business. Traveka Wealth LLC bought a new position in shares of Brazilian Electric Power during the first quarter worth approximately $118,000. Sequoia Financial Advisors LLC lifted its position 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 valued at $210,000 after acquiring an additional 802 shares during the period. Principal Financial Group Inc. grew 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 purchasing an additional 1,559 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Brazilian Electric Power by 28.2% in the first 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 in the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Brazilian Electric Power during the first quarter worth about $150,000. Institutional investors own 2.64% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AXIA. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Brazilian Electric Power in a research report on Monday, July 6th. Wall Street Zen cut shares of Brazilian Electric Power from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 18th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus 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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