De Lima Filho Pedro Batista Sells 597,500 Shares of Brazilian Electric Power (NYSE:AXIA) Stock

Key Points

• Director De Lima Filho Pedro Batista sold 597,500 shares of Brazilian Electric Power (NYSE:AXIA) on June 15 at an average price of $10.13, for about $6.05 million. After the sale, he still owned 4.69 million shares worth roughly $47.5 million.
• The director has been actively trading the stock in recent weeks, including several large sales and a few purchases. Recent transactions include a 2.25 million-share sale on May 29 and a 1.23 million-share purchase the same day.
• AXIA shares rose to $10.63 in Wednesday trading, while analysts currently rate the stock a Hold overall. The company has a market value of $23.91 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 597,500 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $10.13, for a total value of $6,052,675.00. Following the sale, the director owned 4,687,963 shares of the company's stock, valued at approximately $47,489,065.19. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, June 10th, De Lima Filho Pedro Batista sold 30,200 shares of Brazilian Electric Power stock. The stock was 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 stock was purchased at an average price of $10.60 per share, with a total value of $477,000.00.
• On Monday, June 1st, De Lima Filho Pedro Batista sold 555,300 shares of Brazilian Electric Power stock. The shares were 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 transaction 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 cost 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 transaction of $2,450,778.00.
• On Friday, May 22nd, De Lima Filho Pedro Batista sold 714,500 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.40, for a total transaction 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 transaction 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 transaction of $7,895,112.00.

Brazilian Electric Power Stock Performance

Shares of Brazilian Electric Power stock traded up $0.21 during mid-day trading on Wednesday, hitting $10.63. 748,772 shares of the stock were exchanged, compared to its average volume of 2,299,134. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $23.91 billion, a P/E ratio of 59.03, a P/E/G ratio of 1.51 and a beta of 0.46. The firm's 50-day moving average is $11.47. Brazilian Electric Power Co has a 12 month low of $6.71 and a 12 month high of $13.54.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in AXIA. Traveka Wealth LLC purchased a new stake in Brazilian Electric Power during the first quarter valued at about $118,000. Sequoia Financial Advisors LLC boosted its position in Brazilian Electric Power by 4.5% during the first quarter. Sequoia Financial Advisors LLC now owns 18,654 shares of the company's stock valued at $210,000 after buying an additional 802 shares during the period. Principal Financial Group Inc. boosted its position in Brazilian Electric Power by 1.8% during the first quarter. Principal Financial Group Inc. now owns 89,314 shares of the company's stock valued at $1,007,000 after buying an additional 1,559 shares during the period. Sanctuary Advisors LLC boosted its position in Brazilian Electric Power by 28.2% during the first quarter. Sanctuary Advisors LLC now owns 21,953 shares of the company's stock valued at $248,000 after buying an additional 4,834 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in Brazilian Electric Power during the first quarter valued at about $150,000. 2.64% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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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