Kapitalo Investimentos Ltda Boosts Holdings in Brazilian Electric Power Co $AXIA

Key Points

• Kapitalo Investimentos Ltda boosted its stake in Brazilian Electric Power by 146.9% in the first quarter, adding 111,448 shares to bring its total holding to 187,303 shares worth about $2.11 million.
• Other institutional investors also increased or initiated positions, though institutional ownership remains relatively small at 2.64% of the company’s shares.
• Analysts currently have a cautious view on AXIA, with the consensus rating at Hold; meanwhile, the stock was trading near $9.93, below its 50-day average of $10.39.

Kapitalo Investimentos Ltda increased its stake in shares of Brazilian Electric Power Co (NYSE:AXIA - Free Report) by 146.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,303 shares of the company's stock after acquiring an additional 111,448 shares during the quarter. Kapitalo Investimentos Ltda's holdings in Brazilian Electric Power were worth $2,113,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. D.A. Davidson & CO. purchased a new stake in shares of Brazilian Electric Power in the 1st quarter valued at about $312,000. Bank of New York Mellon Corp purchased a new position in Brazilian Electric Power during the 1st quarter worth approximately $150,000. Traveka Wealth LLC purchased a new stake in Brazilian Electric Power in the first quarter valued at approximately $118,000. Sanctuary Advisors LLC lifted its stake in Brazilian Electric Power by 28.2% in 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 last quarter. Finally, Principal Financial Group Inc. lifted its stake in Brazilian Electric Power by 1.8% in 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 last quarter. Institutional investors and hedge funds own 2.64% of the company's stock.

Analysts Set New Price Targets

AXIA has been the topic of a number of research reports. Weiss Ratings restated a "hold (c)" rating on shares of Brazilian Electric Power in a research report on Monday, July 6th. Wall Street Zen downgraded shares of Brazilian Electric Power from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of "Hold".

Brazilian Electric Power Stock Up 1.4%

Shares of AXIA stock opened at $9.93 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a 50-day moving average of $10.39. Brazilian Electric Power Co has a 52-week low of $6.71 and a 52-week high of $13.54. The firm has a market cap of $28.10 billion, a PE ratio of 55.14, a PEG ratio of 1.41 and a beta of 0.45.

Insider Activity

In related news, Director De Lima Filho Pedro Batista sold 3,938,700 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $11.86, for a total transaction of $46,712,982.00. Following the completion of the transaction, the director directly owned 122,350 shares of the company's stock, valued at $1,451,071. This represents a 96.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In the last quarter, insiders have bought 5,348,600 shares of company stock worth $61,580,840 and have sold 14,880,800 shares worth $160,623,863.

Brazilian Electric Power 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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