Centrais El�tricas Brasileiras SA (NYSE:EBR) Short Interest Update

Key Points

• Centrais Elétricas Brasileiras SA (NYSE: EBR) experienced a 39.6% decrease in short interest during August, with total short interest dropping to 2,260,000 shares.
• The company has increased its dividend from $0.16 to $0.3219 per share, resulting in a yield of 700.0%.
• Centrais Elétricas Brasileiras stock saw a 3.8% rise on Monday, reaching a price of $9.00, with significant trading volume above the average.

Centrais El�tricas Brasileiras SA (NYSE:EBR - Get Free Report) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 2,260,000 shares, a drop of 39.6% from the August 15th total of 3,740,000 shares. Approximately 0.1% of the company's shares are sold short. Based on an average daily volume of 1,490,000 shares, the short-interest ratio is currently 1.5 days. Based on an average daily volume of 1,490,000 shares, the short-interest ratio is currently 1.5 days. Approximately 0.1% of the company's shares are sold short.

Institutional Trading of Centrais El�tricas Brasileiras

A number of institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its position in Centrais El�tricas Brasileiras by 336.5% during the fourth quarter. Millennium Management LLC now owns 4,196,607 shares of the utilities provider's stock worth $24,005,000 after acquiring an additional 3,235,114 shares during the period. American Century Companies Inc. increased its holdings in Centrais El�tricas Brasileiras by 62.1% in the 2nd quarter. American Century Companies Inc. now owns 1,107,818 shares of the utilities provider's stock valued at $8,231,000 after buying an additional 424,417 shares during the period. Goldman Sachs Group Inc. increased its holdings in Centrais El�tricas Brasileiras by 92.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 658,681 shares of the utilities provider's stock valued at $4,677,000 after buying an additional 315,607 shares during the period. Kapitalo Investimentos Ltda increased its holdings in Centrais El�tricas Brasileiras by 3,872.3% in the 1st quarter. Kapitalo Investimentos Ltda now owns 588,811 shares of the utilities provider's stock valued at $4,181,000 after buying an additional 573,988 shares during the period. Finally, Cubist Systematic Strategies LLC increased its holdings in Centrais El�tricas Brasileiras by 105.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 563,836 shares of the utilities provider's stock valued at $4,003,000 after buying an additional 289,184 shares during the period. 2.64% of the stock is currently owned by institutional investors and hedge funds.

Centrais El�tricas Brasileiras Trading Up 3.4%

Shares of Centrais El�tricas Brasileiras stock traded up $0.32 during trading on Friday, hitting $9.53. The stock had a trading volume of 2,625,782 shares, compared to its average volume of 1,852,108. The stock has a 50 day simple moving average of $7.83 and a 200 day simple moving average of $7.48. The company has a market capitalization of $21.44 billion, a PE ratio of 18.32, a P/E/G ratio of 11.34 and a beta of 0.64. The company has a quick ratio of 1.85, a current ratio of 1.86 and a debt-to-equity ratio of 0.50. Centrais El�tricas Brasileiras has a 1 year low of $5.45 and a 1 year high of $9.55.

Centrais El�tricas Brasileiras Increases Dividend

The firm also recently announced a -- dividend, which was paid on Friday, September 5th. Shareholders of record on Monday, August 18th were given a $0.3219 dividend. This is a positive change from Centrais El�tricas Brasileiras's previous -- dividend of $0.16. This represents a yield of 700.0%. The ex-dividend date of this dividend was Monday, August 18th. Centrais El�tricas Brasileiras's payout ratio is presently 125.00%.

Analysts Set New Price Targets

Separately, Scotiabank raised shares of Centrais El�tricas Brasileiras to a "strong-buy" rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, Centrais El�tricas Brasileiras has a consensus rating of "Strong Buy".

About Centrais El�tricas Brasileiras

Centrais Elétricas Brasileiras SA - Eletrobrás, through its subsidiaries, engages in the generation, transmission, and commercialization of electricity in Brazil. The company generates electricity through hydroelectric, thermoelectric, nuclear, wind, and solar plants. As of December 31, 2023, it owned and operated 44 hydroelectric plants with a total capacity of 42,293.5 megawatt (MW); 5 thermal plants, including coal and gas power generation units with a total installed capacity of 1,632 MW; and two nuclear power plants comprising Angra 1 with an installed capacity of 657 MW and Angra 2 with an installed capacity of 1350 MW.