De Lima Filho Pedro Batista Sells 234,300 Shares of Brazilian Electric Power (NYSE:AXIA) Stock

Key Points

• Director De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power (NYSE:AXIA) on Monday at an average price of $10.46, bringing in about $2.45 million. After the sale, he still held 524,546 shares, a 30.88% decrease in his position.
• The filing also shows a pattern of heavy recent insider activity, including multiple large sales and one notable purchase earlier in the month. Overall, the director has been reducing exposure to the stock over several transactions.
• AXIA shares fell 2.4% to $10.43, while analysts currently view the stock as a Hold. The company has a market cap of $23.46 billion and has traded between $6.71 and $13.54 over the past year.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 234,300 shares of the stock in a transaction on Monday, May 25th. The stock was sold at an average price of $10.46, for a total value of $2,450,778.00. Following the sale, the director owned 524,546 shares in the company, valued at approximately $5,486,751.16. This represents a 30.88% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

De Lima Filho Pedro Batista also recently made the following trade(s):

• On Friday, May 22nd, De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.40, for a total value of $7,430,800.00.
• On Wednesday, May 20th, De Lima Filho Pedro Batista sold 941,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.60, for a total value of $9,979,900.00.
• On Monday, May 18th, De Lima Filho Pedro Batista sold 751,200 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.51, for a total value of $7,895,112.00.
• On Monday, May 18th, De Lima Filho Pedro Batista purchased 49,600 shares of Brazilian Electric Power stock. The stock was purchased at an average cost of $11.27 per share, with a total value of $558,992.00.
• On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.48, for a total transaction of $9,028,520.00.
• On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.74, for a total transaction of $7,156,062.00.
• On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.05, for a total transaction of $7,148,245.00.
• On Friday, May 8th, De Lima Filho Pedro Batista sold 3,938,700 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.86, for a total transaction of $46,712,982.00.
• On Friday, May 8th, De Lima Filho Pedro Batista purchased 3,656,500 shares of Brazilian Electric Power stock. The stock was purchased at an average cost of $11.90 per share, with a total value of $43,512,350.00.
• On Monday, April 20th, De Lima Filho Pedro Batista sold 1,397,982 shares of Brazilian Electric Power stock. The shares were sold at an average price of $12.54, for a total transaction of $17,530,694.28.

Brazilian Electric Power Stock Down 2.4%

NYSE:AXIA traded down $0.26 during trading hours on Wednesday, hitting $10.43. The stock had a trading volume of 2,107,523 shares, compared to its average volume of 2,329,158. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 2.11. Brazilian Electric Power Co has a one year low of $6.71 and a one year high of $13.54. The company has a market cap of $23.46 billion, a price-to-earnings ratio of 57.97, a PEG ratio of 1.55 and a beta of 0.52.

Analysts Set New Price Targets

Several research analysts have commented on AXIA shares. Wall Street Zen downgraded shares of Brazilian Electric Power from a "buy" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings started coverage on shares of Brazilian Electric Power in a report on Tuesday, April 7th. They set a "hold (c)" rating for the company. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold".

Institutional Trading of Brazilian Electric Power

A number of hedge funds have recently made changes to their positions in the stock. Sei Investments Co. bought a new stake in shares of Brazilian Electric Power during the 1st quarter worth $461,000. Walleye Capital LLC purchased a new position in Brazilian Electric Power in the 1st quarter worth $274,000. Cetera Investment Advisers raised its position in Brazilian Electric Power by 53.6% in the 1st quarter. Cetera Investment Advisers now owns 37,934 shares of the company's stock worth $428,000 after purchasing an additional 13,237 shares during the period. Measured Wealth Private Client Group LLC purchased a new position in Brazilian Electric Power in the 1st quarter worth $323,000. Finally, Kapitalo Investimentos Ltda raised its position in Brazilian Electric Power by 146.9% in the 1st quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company's stock worth $2,113,000 after purchasing an additional 111,448 shares during the period. 2.64% of the stock is owned by institutional investors.

About Brazilian Electric Power

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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