De Lima Filho Pedro Batista Sells 478,900 Shares of Brazilian Electric Power (NYSE:AXIA) Stock

Key Points

• Director De Lima Filho Pedro Batista sold 478,900 shares of Brazilian Electric Power (NYSE:AXIA) on June 29 at an average price of $10.55, totaling about $5.05 million. After the sale, he still held 4,649,910 shares.
• The director has been actively trimming his stake with multiple recent transactions, including several large sales in June and late May, alongside a couple of purchases. Overall, the most recent sale represented a 9.34% decrease in his position.
• AXIA shares were trading around $10.39, near their 50-day average of $10.97, while analysts currently have a Hold consensus on the stock. The company has a market cap of about $29.42 billion and a 52-week range of $6.71 to $13.54.

Brazilian Electric Power Co (NYSE:AXIA - Get Free Report) Director De Lima Filho Pedro Batista sold 478,900 shares of Brazilian Electric Power stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $10.55, for a total transaction of $5,052,395.00. Following the completion of the sale, the director directly owned 4,649,910 shares in the company, valued at approximately $49,056,550.50. The trade was a 9.34% decrease in their position. The sale 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 Wednesday, June 17th, De Lima Filho Pedro Batista sold 460,000 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.16, for a total transaction of $4,673,600.00.
• On Monday, June 15th, De Lima Filho Pedro Batista sold 597,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.13, for a total transaction of $6,052,675.00.
• On Wednesday, June 10th, De Lima Filho Pedro Batista sold 30,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $9.59, for a total value of $289,618.00.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista sold 400,000 shares of Brazilian Electric Power stock. The shares were sold at an average price of $9.90, for a total value of $3,960,000.00.
• On Wednesday, June 3rd, De Lima Filho Pedro Batista bought 45,000 shares of Brazilian Electric Power stock. The shares were acquired at an average price of $10.60 per share, for a total transaction of $477,000.00.
• On Monday, June 1st, De Lima Filho Pedro Batista sold 555,300 shares of Brazilian Electric Power stock. The stock was sold at an average price of $9.88, for a total value of $5,486,364.00.
• On Friday, May 29th, De Lima Filho Pedro Batista sold 2,249,200 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.43, for a total value of $23,459,156.00.
• On Friday, May 29th, De Lima Filho Pedro Batista purchased 1,234,900 shares of Brazilian Electric Power stock. The stock was acquired at an average price of $10.78 per share, for a total transaction of $13,312,222.00.
• On Monday, May 25th, De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.46, for a total value of $2,450,778.00.
• 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.

Brazilian Electric Power Stock Performance

NYSE:AXIA traded down $0.17 during trading hours on Wednesday, hitting $10.39. The company's stock had a trading volume of 2,076,669 shares, compared to its average volume of 2,304,205. The company has a 50-day moving average price of $10.97. The firm has a market capitalization of $29.42 billion, a P/E ratio of 57.73, a PEG ratio of 1.55 and a beta of 0.46. 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 52-week low of $6.71 and a 52-week high of $13.54.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AXIA shares. Wall Street Zen raised shares of Brazilian Electric Power from a "hold" rating to a "buy" rating in a research note on Saturday, May 30th. Weiss Ratings began coverage on shares of Brazilian Electric Power in a research note on Tuesday, April 7th. They issued a "hold (c)" rating for the company. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Brazilian Electric Power currently has a consensus rating of "Hold".

Hedge Funds Weigh In On Brazilian Electric Power

Hedge funds have recently bought and sold shares of the company. Traveka Wealth LLC purchased a new stake in Brazilian Electric Power during the 1st quarter worth about $118,000. Bank of New York Mellon Corp purchased a new position in Brazilian Electric Power in the 1st quarter valued at about $150,000. Sequoia Financial Advisors LLC lifted its holdings in Brazilian Electric Power by 4.5% in the 1st quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company's stock valued at $210,000 after purchasing an additional 802 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Brazilian Electric Power by 28.2% during the 1st quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company's stock worth $248,000 after purchasing an additional 4,834 shares during the last quarter. Finally, Walleye Capital LLC acquired a new stake in shares of Brazilian Electric Power during the 1st quarter worth about $274,000. 2.64% of the stock is owned by hedge funds and other institutional investors.

Brazilian Electric Power Company Profile

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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