Brazilian Electric Power (NYSE:AXIA) Director Sells $17,530,694.28 in Stock

Key Points

• Director De Lima Filho Pedro Batista sold 1,397,982 shares on April 20 at an average of $12.54 for a total of $17,530,694.28, cutting his stake by 90.42% to 148,050 shares (≈$1.86M); he also sold 1,640,600 shares on April 17 for ~$20.44M, signaling substantial insider selling.
• Shares traded down $0.16 (≈1.3%) to $12.62 on Wednesday with volume (559,432) well below the average (2,432,231); the stock sits near its 52-week high ($13.54) and carries a market cap of $28.39 billion and a P/E of 24.26.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 1,397,982 shares of the company's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $12.54, for a total transaction of $17,530,694.28. Following the completion of the transaction, the director owned 148,050 shares of the company's stock, valued at approximately $1,856,547. The trade was a 90.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, April 17th, De Lima Filho Pedro Batista sold 1,640,600 shares of Brazilian Electric Power stock. The shares were sold at an average price of $12.46, for a total transaction of $20,441,876.00.

Brazilian Electric Power Trading Down 1.3%

Shares of Brazilian Electric Power stock traded down $0.16 during trading hours on Wednesday, hitting $12.62. The company had a trading volume of 559,432 shares, compared to its average volume of 2,432,231. 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 1.68, a quick ratio of 1.67 and a debt-to-equity ratio of 0.52. The stock has a market cap of $28.39 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 1.86 and a beta of 0.53.

Institutional Trading of Brazilian Electric Power

An institutional investor recently bought a new position in Brazilian Electric Power stock. Traveka Wealth LLC acquired a new stake in Brazilian Electric Power Co (NYSE:AXIA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,437 shares of the company's stock, valued at approximately $118,000. Institutional investors own 2.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen upgraded 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 issued a "hold (c)" rating for the company. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold".

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.