Brazilian Electric Power (NYSE:AXIA) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Brazilian Electric Power (NYSE:AXIA) from a buy rating to a hold rating. Weiss Ratings also initiated coverage with a hold (c) rating, leaving the stock with an overall average hold view.
• The stock rose 1.9% and opened at $12.02, near its 12-month high of $13.54. The company has a market cap of $27.04 billion and trades with a relatively low beta of 0.52.
• Insider selling has been notable, with executives Camila Gualda Sampaio Araujo and Rodrigo Limp Nascimento recently selling shares. In the last quarter, insiders have sold 3.07 million shares worth about $38.4 million.

Brazilian Electric Power (NYSE:AXIA - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings started coverage on Brazilian Electric Power in a report on Tuesday, April 7th. They set a "hold (c)" rating for the company. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of "Hold".

Brazilian Electric Power Stock Up 1.9%

Shares of NYSE AXIA opened at $12.02 on Friday. Brazilian Electric Power has a 12 month low of $6.71 and a 12 month high of $13.54. The firm has a market cap of $27.04 billion, a PE ratio of 23.11, a P/E/G ratio of 1.70 and a beta of 0.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.68 and a quick ratio of 1.68.

Insider Activity

In other news, insider Sampaio Araujo Camila Gualda sold 20,575 shares of the stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $11.31, for a total transaction of $232,703.25. Following the transaction, the insider owned 83,077 shares of the company's stock, valued at approximately $939,600.87. This represents a 19.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Nascimento Rodrigo Limp sold 15,000 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $12.65, for a total value of $189,750.00. Following the transaction, the insider directly owned 120,775 shares in the company, valued at approximately $1,527,803.75. This represents a 11.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,074,157 shares of company stock valued at $38,395,024.

Institutional Trading of Brazilian Electric Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kapitalo Investimentos Ltda grew its holdings 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 buying an additional 111,448 shares during the last quarter. D.A. Davidson & CO. bought a new position in shares of Brazilian Electric Power during the 1st quarter worth approximately $312,000. Bank of New York Mellon Corp bought a new position in shares of Brazilian Electric Power during the 1st quarter worth approximately $150,000. Sanctuary Advisors LLC lifted its position in shares of Brazilian Electric Power by 28.2% during the 1st quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company's stock worth $248,000 after buying an additional 4,834 shares during the period. Finally, Principal Financial Group Inc. lifted its position 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 buying an additional 1,559 shares during the period. Institutional investors and hedge funds own 2.64% of the company's stock.

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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