Brazilian Electric Power (NYSE:AXIA) Director Sells $8,192,000.00 in Stock

Key Points

• Director De Lima Filho Pedro Batista sold 800,000 shares of Brazilian Electric Power at an average price of $10.24, totaling about $8.19 million. After the sale, his stake fell by 15.08% to 4,504,719 shares.
• The director also made several recent buy and sell transactions, including a buy of 362,600 shares on July 1 and multiple large sales in late May and June, highlighting notable insider trading activity.
• Brazilian Electric Power’s shares were trading around $10.46, with analysts currently holding an overall Hold consensus rating despite a recent upgrade from Wall Street Zen to strong-buy.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 800,000 shares of Brazilian Electric Power stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $10.24, for a total value of $8,192,000.00. Following the sale, the director owned 4,504,719 shares in the company, valued at $46,128,322.56. This represents a 15.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 Wednesday, July 1st, De Lima Filho Pedro Batista bought 362,600 shares of Brazilian Electric Power stock. The shares were acquired at an average price of $10.26 per share, with a total value 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 transaction 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 transaction 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 value of $289,618.00.
• 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 bought 45,000 shares of Brazilian Electric Power stock. The stock was purchased at an average price 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 shares were purchased at an average cost of $10.78 per share, for a total transaction of $13,312,222.00.

Brazilian Electric Power Price Performance

AXIA traded up $0.07 during trading hours on Monday, hitting $10.46. 1,780,406 shares of the stock were exchanged, compared to its average volume of 2,296,504. The stock has a 50-day simple moving average of $10.83. Brazilian Electric Power Co has a 12 month low of $6.71 and a 12 month high of $13.54. The firm has a market capitalization of $29.60 billion, a PE ratio of 58.08, a price-to-earnings-growth ratio of 1.49 and a beta of 0.45. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.11 and a current ratio of 2.11.

Institutional Investors Weigh In On Brazilian Electric Power

Several institutional investors have recently bought and sold shares of the stock. Kapitalo Investimentos Ltda raised its stake in shares of Brazilian Electric Power by 146.9% in the 1st quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company's stock worth $2,113,000 after buying an additional 111,448 shares in the last quarter. Sei Investments Co. bought a new position in Brazilian Electric Power during the first quarter valued at about $461,000. Measured Wealth Private Client Group LLC acquired a new position in Brazilian Electric Power during the first quarter worth about $323,000. D.A. Davidson & CO. bought a new stake in Brazilian Electric Power in the first quarter worth about $312,000. Finally, Walleye Capital LLC bought a new stake in Brazilian Electric Power in the first quarter worth about $274,000. Institutional investors and hedge funds own 2.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Brazilian Electric Power from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Weiss Ratings began coverage on Brazilian Electric Power in a report on Tuesday, April 7th. They set a "hold (c)" rating for the company. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company 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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