Brazilian Electric Power (NYSE:AXIA) Director Sells 293,200 Shares of Stock

Key Points

• Director De Lima Filho Pedro Batista sold 293,200 shares of Brazilian Electric Power (NYSE:AXIA) on July 8 at an average price of $10.04, totaling about $2.94 million. After the sale, he still held 4,464,519 shares, though his stake fell by 6.16%.
• The director has been actively trading the stock in recent weeks, including multiple large sales and a couple of purchases in late June and early July. These transactions suggest significant insider activity around AXIA.
• AXIA shares rose 4.0% to $10.52, while analysts currently have a consensus rating of Hold. The stock is trading below its 52-week high of $13.54 but above its low of $6.71.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 293,200 shares of the firm's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $10.04, for a total value of $2,943,728.00. Following the sale, the director directly owned 4,464,519 shares of the company's stock, valued at $44,823,770.76. This represents a 6.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• 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 value of $2,655,204.00.
• On Wednesday, July 1st, De Lima Filho Pedro Batista sold 800,000 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.24, for a total value of $8,192,000.00.
• On Wednesday, July 1st, De Lima Filho Pedro Batista acquired 362,600 shares of Brazilian Electric Power stock. The stock was purchased 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 shares were 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.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista acquired 45,000 shares of Brazilian Electric Power stock. The stock was acquired 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 transaction of $5,486,364.00.

Brazilian Electric Power Trading Up 4.0%

Shares of NYSE:AXIA traded up $0.41 on Friday, reaching $10.52. 1,219,881 shares of the company's stock were exchanged, compared to its average volume of 2,282,146. Brazilian Electric Power Co has a twelve month low of $6.71 and a twelve month high of $13.54. The company's fifty day moving average price is $10.69. The firm has a market cap of $29.77 billion, a P/E ratio of 58.42, a price-to-earnings-growth ratio of 1.48 and a beta of 0.45. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52.

Institutional Trading of Brazilian Electric Power

Several large investors have recently bought and sold shares of the business. Sei Investments Co. bought a new position in shares of Brazilian Electric Power in the first quarter worth about $461,000. Walleye Capital LLC acquired a new position in Brazilian Electric Power during the 1st quarter worth approximately $274,000. Cetera Investment Advisers increased its position in Brazilian Electric Power by 53.6% during the 1st quarter. Cetera Investment Advisers now owns 37,934 shares of the company's stock worth $428,000 after purchasing an additional 13,237 shares in the last quarter. Measured Wealth Private Client Group LLC bought a new position in Brazilian Electric Power in the 1st quarter valued at approximately $323,000. Finally, Kapitalo Investimentos Ltda lifted its stake in Brazilian Electric Power by 146.9% in the 1st quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company's stock valued at $2,113,000 after purchasing an additional 111,448 shares during the last quarter. 2.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AXIA has been the topic of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Brazilian Electric Power in a report on Monday. Wall Street Zen upgraded shares of Brazilian Electric Power from a "buy" rating to a "strong-buy" rating in a research report on Saturday, July 4th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Brazilian Electric Power currently has a consensus 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.

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