Brazilian Electric Power (NYSE:AXIA) Director Sells $7,430,800.00 in Stock

Key Points

• Brazilian Electric Power director De Lima Filho Pedro Batista sold 714,500 shares on May 22 at an average price of $10.40, totaling $7.43 million. After the transaction, he still held 558,346 shares, a 56.13% reduction in his position.
• The filing shows multiple recent insider transactions, including several large sales over the prior two weeks, alongside one notable purchase on May 8 and another on May 18. Overall, the activity suggests heavy insider trading around the stock.
• AXIA shares traded around $10.55 in recent trading, with analysts currently maintaining an overall Hold rating. The stock has a 12-month range of $6.71 to $13.54.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 714,500 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $10.40, for a total transaction of $7,430,800.00. Following the sale, the director owned 558,346 shares of the company's stock, valued at approximately $5,806,798.40. This represents a 56.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Wednesday, May 20th, De Lima Filho Pedro Batista sold 941,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.60, for a total transaction of $9,979,900.00.
• On Monday, May 18th, De Lima Filho Pedro Batista sold 751,200 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.51, for a total transaction of $7,895,112.00.
• On Monday, May 18th, De Lima Filho Pedro Batista acquired 49,600 shares of Brazilian Electric Power stock. The shares were purchased at an average price of $11.27 per share, with a total value of $558,992.00.
• On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.48, for a total value of $9,028,520.00.
• On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.74, for a total value of $7,156,062.00.
• On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The stock was sold at an average price of $11.05, for a total value of $7,148,245.00.
• On Friday, May 8th, De Lima Filho Pedro Batista sold 3,938,700 shares of Brazilian Electric Power stock. The stock was sold at an average price of $11.86, for a total value of $46,712,982.00.
• On Friday, May 8th, De Lima Filho Pedro Batista bought 3,656,500 shares of Brazilian Electric Power stock. The shares were acquired at an average price of $11.90 per share, for a total transaction of $43,512,350.00.
• On Monday, April 20th, De Lima Filho Pedro Batista sold 1,397,982 shares of Brazilian Electric Power stock. The stock was sold at an average price of $12.54, for a total value of $17,530,694.28.
• On Friday, April 17th, De Lima Filho Pedro Batista sold 1,640,600 shares of Brazilian Electric Power stock. The stock was sold at an average price of $12.46, for a total value of $20,441,876.00.

Brazilian Electric Power Stock Performance

Shares of AXIA traded down $0.22 during trading hours on Tuesday, reaching $10.55. The company had a trading volume of 1,657,184 shares, compared to its average volume of 2,323,454. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $23.74 billion, a PE ratio of 58.61, a P/E/G ratio of 1.55 and a beta of 0.52. Brazilian Electric Power Co has a 12-month low of $6.71 and a 12-month high of $13.54.

Analysts Set New Price Targets

Several research firms have weighed in on AXIA. Wall Street Zen downgraded shares of Brazilian Electric Power from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings assumed coverage on shares of Brazilian Electric Power in a research note on Tuesday, April 7th. They set a "hold (c)" rating on the stock. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold".

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AXIA. Traveka Wealth LLC acquired a new position in Brazilian Electric Power during the first quarter valued at approximately $118,000. Bank of New York Mellon Corp acquired a new position in Brazilian Electric Power during the first quarter valued at approximately $150,000. Sequoia Financial Advisors LLC lifted its position in Brazilian Electric Power by 4.5% during the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company's stock valued at $210,000 after buying an additional 802 shares in the last quarter. Sanctuary Advisors LLC lifted 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 valued at $248,000 after buying an additional 4,834 shares in the last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of Brazilian Electric Power during the first quarter valued at approximately $274,000. 2.64% of the stock is owned by institutional investors and hedge funds.

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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