Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC) Short Interest Up 64.9% in July

Key Points

• Short interest increased 64.9% to 629,886 shares as of July 15, representing about 0.1% of ELPC’s shares and 1.5 days of average trading volume.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and a $10.40 target price; the stock recently traded at $11.73.
• Copel reported quarterly EPS of $0.16, below the $0.19 consensus estimate, despite revenue exceeding expectations, and announced a special dividend of $0.1904 per share.

Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Get Free Report) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 629,886 shares, an increase of 64.9% from the June 30th total of 382,079 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 420,809 shares, the short-interest ratio is presently 1.5 days.

Insider Activity

In related news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $2.94, for a total value of $95,520.60. Following the transaction, the director directly owned 63,546 shares in the company, valued at approximately $186,825.24. This trade represents a 33.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link.

Hedge Funds Weigh In On Companhia Paranaense de Energia - Copel

Several large investors have recently added to or reduced their stakes in ELPC. GAMMA Investing LLC lifted its position in shares of Companhia Paranaense de Energia - Copel by 22.3% in the 2nd quarter. GAMMA Investing LLC now owns 14,186 shares of the company's stock worth $165,000 after acquiring an additional 2,586 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Companhia Paranaense de Energia - Copel by 23.0% during the first quarter. EverSource Wealth Advisors LLC now owns 7,373 shares of the company's stock valued at $88,000 after purchasing an additional 1,379 shares during the period. Quantinno Capital Management LP raised its stake in shares of Companhia Paranaense de Energia - Copel by 27.1% in the first quarter. Quantinno Capital Management LP now owns 394,375 shares of the company's stock valued at $4,709,000 after purchasing an additional 84,121 shares in the last quarter. Sei Investments Co. raised its stake in shares of Companhia Paranaense de Energia - Copel by 8.8% in the first quarter. Sei Investments Co. now owns 71,314 shares of the company's stock valued at $852,000 after purchasing an additional 5,787 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in Companhia Paranaense de Energia - Copel in the first quarter worth $540,000.

Analyst Upgrades and Downgrades

ELPC has been the subject of a number of recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a report on Friday, July 17th. Wall Street Zen lowered Companhia Paranaense de Energia - Copel from a "strong-buy" rating to a "buy" rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $10.40.

Companhia Paranaense de Energia - Copel Stock Performance

Shares of ELPC traded down $0.07 during mid-day trading on Friday, hitting $11.73. The company's stock had a trading volume of 296,075 shares, compared to its average volume of 348,456. The stock's 50-day moving average is $11.58 and its two-hundred day moving average is $11.53. The firm has a market capitalization of $8.73 billion, a PE ratio of 20.59, a price-to-earnings-growth ratio of 1.02 and a beta of -0.07. Companhia Paranaense de Energia - Copel has a one year low of $7.80 and a one year high of $13.70.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.03). The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.13 billion. Analysts expect that Companhia Paranaense de Energia - Copel will post 0.7 EPS for the current fiscal year.

Companhia Paranaense de Energia - Copel Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st will be given a dividend of $0.1904 per share. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia - Copel's dividend payout ratio is currently 105.26%.

Companhia Paranaense de Energia - Copel Company Profile

Companhia Paranaense de Energia – Copel is a Brazilian utility company primarily engaged in the generation, transmission and distribution of electricity. Established in 1954, Copel operates a diversified portfolio of power plants, with a strong emphasis on hydroelectric facilities supplemented by thermal and renewable energy sources. The company's integrated network spans the entirety of Paraná state, delivering electricity services to residential, commercial and industrial customers through a combination of high-voltage transmission lines and local distribution networks.

In addition to its core power business, Copel has expanded into telecommunications through its Copel Telecom subsidiary.

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