Companhia Paranaense de Energia (COPEL) (NYSE:ELP) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Key Points

• COPEL's stock price has crossed above its 200-day moving average, reaching a trading high of $9.35, indicating potential bullish momentum.
• The company reported earnings of $0.02 per share for the last quarter, missing expectations significantly, alongside a revenue of $1.14 billion compared to forecasts of $4.72 billion.
• Institutional investors have increased their stakes in COPEL, with Bank of America Corp increasing its holdings by 97.7% during the second quarter, reflecting confidence in the stock among large investors.

Shares of Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.33 and traded as high as $9.35. Companhia Paranaense de Energia (COPEL) shares last traded at $9.31, with a volume of 145,519 shares.

Companhia Paranaense de Energia (COPEL) Stock Performance

The company has a current ratio of 1.13, a quick ratio of 1.12 and a debt-to-equity ratio of 0.63. The business's 50 day moving average is $8.83 and its 200 day moving average is $8.33. The stock has a market capitalization of $5.54 billion, a PE ratio of 54.74 and a beta of 0.83.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.02 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.09). The company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $4.72 billion. Companhia Paranaense de Energia (COPEL) had a return on equity of 11.15% and a net margin of 12.77%. On average, equities research analysts predict that Companhia Paranaense de Energia will post 0.12 earnings per share for the current fiscal year.

Institutional Trading of Companhia Paranaense de Energia (COPEL)

Several institutional investors and hedge funds have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. raised its stake in shares of Companhia Paranaense de Energia (COPEL) by 2.9% during the first quarter. Letko Brosseau & Associates Inc. now owns 6,714,721 shares of the utilities provider's stock valued at $49,085,000 after acquiring an additional 190,026 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Companhia Paranaense de Energia (COPEL) by 97.7% during the second quarter. Bank of America Corp DE now owns 544,714 shares of the utilities provider's stock valued at $4,973,000 after acquiring an additional 269,120 shares in the last quarter. Millennium Management LLC raised its stake in shares of Companhia Paranaense de Energia (COPEL) by 59.9% during the fourth quarter. Millennium Management LLC now owns 297,678 shares of the utilities provider's stock valued at $1,765,000 after acquiring an additional 111,570 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Companhia Paranaense de Energia (COPEL) by 176.6% during the fourth quarter. Two Sigma Investments LP now owns 288,065 shares of the utilities provider's stock valued at $1,708,000 after acquiring an additional 183,936 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Companhia Paranaense de Energia (COPEL) by 71.3% in the fourth quarter. Two Sigma Advisers LP now owns 257,020 shares of the utilities provider's stock worth $1,524,000 after acquiring an additional 107,000 shares during the period. Institutional investors own 3.80% of the company's stock.

About Companhia Paranaense de Energia (COPEL)

Companhia Paranaense de Energia - COPEL engages in the generation, transformation, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers in Brazil. The company operates through Power Generation and Transmission, Power Distribution, Power Sale, and Gas segments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.