Insider Selling: Brazilian Electric Power (NYSE:AXIA) Director Sells $23,459,156.00 in Stock

by · The Markets Daily

Brazilian Electric Power Co (NYSE:AXIA – Get Free Report) Director De Lima Filho Pedro Batista sold 2,249,200 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $10.43, for a total value of $23,459,156.00. Following the sale, the director owned 53,152 shares of the company’s stock, valued at $554,375.36. This trade represents a 97.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Friday, May 29th, De Lima Filho Pedro Batista purchased 1,234,900 shares of Brazilian Electric Power stock. The shares were bought at an average price of $10.78 per share, with a total value of $13,312,222.00.
  • On Monday, May 25th, De Lima Filho Pedro Batista sold 234,300 shares of Brazilian Electric Power stock. The stock was 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.
  • 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 value 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 value of $7,895,112.00.
  • On Monday, May 18th, De Lima Filho Pedro Batista purchased 49,600 shares of Brazilian Electric Power stock. The shares were bought at an average price of $11.27 per share, with a total value of $558,992.00.
  • On Friday, May 15th, De Lima Filho Pedro Batista sold 861,500 shares of Brazilian Electric Power stock. The stock was sold at an average price of $10.48, for a total value of $9,028,520.00.
  • On Wednesday, May 13th, De Lima Filho Pedro Batista sold 666,300 shares of Brazilian Electric Power stock. The shares were sold at an average price of $10.74, for a total value of $7,156,062.00.
  • On Monday, May 11th, De Lima Filho Pedro Batista sold 646,900 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.05, for a total value of $7,148,245.00.
  • On Friday, May 8th, De Lima Filho Pedro Batista sold 3,938,700 shares of Brazilian Electric Power stock. The shares were sold at an average price of $11.86, for a total value of $46,712,982.00.

Brazilian Electric Power Price Performance

AXIA traded up $0.20 during trading on Tuesday, reaching $10.37. The company’s stock had a trading volume of 2,779,088 shares, compared to its average volume of 2,352,793. 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 capitalization of $23.33 billion, a PE ratio of 57.58, a P/E/G ratio of 1.49 and a beta of 0.46. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.52.

Wall Street Analysts Forecast Growth

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

View Our Latest Stock Report on AXIA

Institutional Investors Weigh In On Brazilian Electric Power

Several institutional investors have recently modified their holdings of AXIA. Kapitalo Investimentos Ltda boosted its stake in shares of Brazilian Electric Power by 146.9% during the 1st quarter. Kapitalo Investimentos Ltda now owns 187,303 shares of the company’s stock worth $2,113,000 after acquiring an additional 111,448 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of Brazilian Electric Power during the 1st quarter worth approximately $461,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Brazilian Electric Power during the 1st quarter worth approximately $323,000. D.A. Davidson & CO. purchased a new stake in shares of Brazilian Electric Power during the 1st quarter worth approximately $312,000. Finally, Walleye Capital LLC purchased a new stake in shares of Brazilian Electric Power during the 1st quarter worth approximately $274,000. Hedge funds and other institutional investors own 2.64% of the company’s stock.

Brazilian Electric Power Company Profile

(Get Free Report)

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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