Weiss Ratings Reiterates "Hold (C)" Rating for Centrais El�tricas Brasileiras (NYSE:EBR)

Key Points

• Weiss Ratings has reaffirmed a "Hold (C)" rating for Centrais Elétricas Brasileiras (NYSE:EBR), indicating a neutral outlook on the stock.
• Scotiabank has upgraded the company's shares to a "strong-buy" rating, with a total of two strong buy ratings and one hold rating from analysts.
• Centrais Elétricas Brasileiras shares traded up 1.8%, reaching $9.81, with a market capitalization of approximately $22.07 billion.

Centrais El�tricas Brasileiras (NYSE:EBR - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Separately, Scotiabank upgraded shares of Centrais El�tricas Brasileiras to a "strong-buy" rating in a report on Thursday, July 31st. Two research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Centrais El�tricas Brasileiras currently has an average rating of "Buy".

Centrais El�tricas Brasileiras Trading Up 1.8%

Shares of EBR traded up $0.18 during mid-day trading on Wednesday, hitting $9.81. The company had a trading volume of 521,216 shares, compared to its average volume of 1,409,699. Centrais El�tricas Brasileiras has a 1-year low of $5.45 and a 1-year high of $10.02. The company has a quick ratio of 1.85, a current ratio of 1.86 and a debt-to-equity ratio of 0.50. The business's 50-day simple moving average is $8.48 and its 200-day simple moving average is $7.71. The stock has a market cap of $22.07 billion, a PE ratio of 18.84 and a beta of 0.62.

Institutional Trading of Centrais El�tricas Brasileiras

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Centrais El�tricas Brasileiras by 1,918.9% in the first quarter. GAMMA Investing LLC now owns 32,625 shares of the utilities provider's stock worth $232,000 after buying an additional 31,009 shares during the last quarter. Deltec Asset Management LLC grew its position in Centrais El�tricas Brasileiras by 20.7% in the 1st quarter. Deltec Asset Management LLC now owns 145,500 shares of the utilities provider's stock valued at $1,033,000 after buying an additional 25,000 shares in the last quarter. Wealthquest Corp bought a new position in Centrais El�tricas Brasileiras in the 1st quarter valued at about $33,000. Cerity Partners LLC bought a new stake in Centrais El�tricas Brasileiras in the first quarter worth about $135,000. Finally, Cetera Investment Advisers bought a new stake in Centrais El�tricas Brasileiras in the first quarter worth about $248,000. Hedge funds and other institutional investors own 2.64% of the company's stock.

About Centrais El�tricas Brasileiras

Centrais Elétricas Brasileiras SA - Eletrobrás, through its subsidiaries, engages in the generation, transmission, and commercialization of electricity in Brazil. The company generates electricity through hydroelectric, thermoelectric, nuclear, wind, and solar plants. As of December 31, 2023, it owned and operated 44 hydroelectric plants with a total capacity of 42,293.5 megawatt (MW); 5 thermal plants, including coal and gas power generation units with a total installed capacity of 1,632 MW; and two nuclear power plants comprising Angra 1 with an installed capacity of 657 MW and Angra 2 with an installed capacity of 1350 MW.

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