Centrais El�tricas Brasileiras SA (NYSE:EBR) Sees Significant Drop in Short Interest

Key Points

• Centrais Elétricas Brasileiras SA (NYSE:EBR) experienced a 55.5% decline in short interest, dropping from 3,190,000 shares on September 15th to 1,420,000 shares by September 30th.
• The company's stock rose 1.9% during recent trading, reaching $10.26, while maintaining a market capitalization of $23.08 billion.
• Centrais Elétricas Brasileiras increased its dividend from $0.16 to $0.3219 per share, reflecting a significant yield of 700%.

Centrais El�tricas Brasileiras SA (NYSE:EBR - Get Free Report) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 1,420,000 shares, a decline of 55.5% from the September 15th total of 3,190,000 shares. Based on an average daily volume of 1,620,000 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 1,620,000 shares, the days-to-cover ratio is currently 0.9 days.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Scotiabank upgraded Centrais El�tricas Brasileiras to a "strong-buy" rating in a research report on Thursday, July 31st. Weiss Ratings restated a "hold (c)" rating on shares of Centrais El�tricas Brasileiras in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy".

Centrais El�tricas Brasileiras Stock Up 1.9%

EBR traded up $0.20 during trading on Monday, reaching $10.26. The stock had a trading volume of 3,566,725 shares, compared to its average volume of 1,440,873. The stock's 50 day moving average is $8.88 and its two-hundred day moving average is $7.85. The company has a current ratio of 1.86, a quick ratio of 1.85 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $23.08 billion, a price-to-earnings ratio of 19.72 and a beta of 0.62. Centrais El�tricas Brasileiras has a one year low of $5.45 and a one year high of $10.33.

Centrais El�tricas Brasileiras Increases Dividend

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

Institutional Investors Weigh In On Centrais El�tricas Brasileiras

Several institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC boosted its position in shares of Centrais El�tricas Brasileiras by 4.8% during the second quarter. Yousif Capital Management LLC now owns 32,133 shares of the utilities provider's stock valued at $239,000 after buying an additional 1,465 shares during the last quarter. First Trust Advisors LP lifted its holdings in Centrais El�tricas Brasileiras by 18.8% in the second quarter. First Trust Advisors LP now owns 14,865 shares of the utilities provider's stock valued at $110,000 after acquiring an additional 2,356 shares during the period. GAMMA Investing LLC lifted its holdings in Centrais El�tricas Brasileiras by 59.3% in the second quarter. GAMMA Investing LLC now owns 7,318 shares of the utilities provider's stock valued at $54,000 after acquiring an additional 2,723 shares during the period. Wealthquest Corp bought a new position in Centrais El�tricas Brasileiras in the first quarter valued at about $33,000. Finally, XTX Topco Ltd lifted its holdings in Centrais El�tricas Brasileiras by 6.1% in the first quarter. XTX Topco Ltd now owns 86,585 shares of the utilities provider's stock valued at $615,000 after acquiring an additional 4,995 shares during the period. 2.64% of the stock is owned by hedge funds and other institutional investors.

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.

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