Short Interest in Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC) Decreases By 37.4%

Key Points

• Short interest in ELPC fell sharply in June, dropping 37.4% to 382,079 shares as of June 30. That puts the short-interest ratio at about 1.0 day, with just 0.1% of shares sold short.
• Analyst sentiment is mixed but slightly positive, with one Strong Buy, one Buy, and two Hold ratings. The stock’s consensus rating is currently Moderate Buy, with an average price target of $10.40.
• The stock traded near $11.52 and recently reported earnings that missed EPS estimates but beat revenue expectations. Copel also announced a special dividend of $0.1904 per share, though its payout ratio is high at 105.26%.

Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Get Free Report) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 382,079 shares, a drop of 37.4% from the June 15th total of 610,117 shares. Based on an average trading volume of 391,035 shares, the short-interest ratio is currently 1.0 days. Currently, 0.1% of the shares of the company are sold short.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ELPC. Weiss Ratings restated a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a research report on Monday, April 20th. Wall Street Zen lowered Companhia Paranaense de Energia - Copel from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $10.40.

Insider Buying and Selling

In other news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the company's stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $2.94, for a total transaction of $95,520.60. Following the completion of the transaction, the director directly owned 63,546 shares of the company's stock, valued at approximately $186,825.24. This represents a 33.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ELPC. Federation des caisses Desjardins du Quebec raised its stake in shares of Companhia Paranaense de Energia - Copel by 143.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company's stock valued at $27,000 after purchasing an additional 1,650 shares in the last quarter. Arax Advisory Partners bought a new position in Companhia Paranaense de Energia - Copel in the 4th quarter valued at about $45,000. Farther Finance Advisors LLC increased its stake in Companhia Paranaense de Energia - Copel by 8,715.5% during the 4th quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company's stock valued at $49,000 after buying an additional 5,055 shares during the period. Atlas Capital Advisors Inc. acquired a new position in Companhia Paranaense de Energia - Copel during the 4th quarter valued at about $49,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Companhia Paranaense de Energia - Copel by 222.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 5,994 shares of the company's stock worth $57,000 after buying an additional 4,134 shares in the last quarter.

Companhia Paranaense de Energia - Copel Trading Up 0.6%

Companhia Paranaense de Energia - Copel stock traded up $0.07 during midday trading on Friday, reaching $11.52. 145,275 shares of the stock traded hands, compared to its average volume of 342,257. Companhia Paranaense de Energia - Copel has a fifty-two week low of $7.53 and a fifty-two week high of $13.70. The firm has a market cap of $8.57 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 0.89 and a beta of -0.07. The firm has a fifty day moving average price of $11.66 and a two-hundred day moving average price of $11.36.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.03). The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.13 billion. Analysts anticipate that Companhia Paranaense de Energia - Copel will post 0.76 earnings per share for the current year.

Companhia Paranaense de Energia - Copel Dividend Announcement

The firm also recently announced a special dividend, which will be paid on Tuesday, October 13th. Shareholders of record on Friday, May 1st will be paid a dividend of $0.1904 per share. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia - Copel's payout ratio is presently 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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