Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Sees Significant Growth in Short Interest

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was the recipient of a significant growth in short interest in June. As of June 15th, there was short interest totalling 4,200,000 shares, a growth of 6.6% from the May 31st total of 3,940,000 shares. Based on an average daily volume of 1,130,000 shares, the short-interest ratio is currently 3.7 days.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Up 1.2 %

NYSE:EBR opened at $6.58 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.56 and a current ratio of 1.57. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52 week low of $6.21 and a 52 week high of $9.11. The stock’s 50 day moving average price is $7.00 and its 200 day moving average price is $7.92.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last issued its quarterly earnings data on Thursday, May 9th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 12.98% and a return on equity of 4.18%. The firm had revenue of $1.76 billion during the quarter. On average, analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.49 earnings per share for the current fiscal year.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 9th were paid a $0.059 dividend. This represents a dividend yield of 0.8%. This is an increase from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous annual dividend of $0.04. The ex-dividend date was Wednesday, May 8th.

Institutional Investors Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Large investors have recently added to or reduced their stakes in the stock. First Affirmative Financial Network raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 17.0% in the fourth quarter. First Affirmative Financial Network now owns 13,642 shares of the utilities provider’s stock valued at $118,000 after purchasing an additional 1,978 shares during the period. Sequoia Financial Advisors LLC boosted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 22.8% during the fourth quarter. Sequoia Financial Advisors LLC now owns 19,578 shares of the utilities provider’s stock valued at $169,000 after acquiring an additional 3,640 shares during the period. Cerity Partners LLC grew its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 42.2% in the fourth quarter. Cerity Partners LLC now owns 15,132 shares of the utilities provider’s stock valued at $130,000 after purchasing an additional 4,491 shares during the last quarter. Deltec Asset Management LLC grew its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 4.8% in the fourth quarter. Deltec Asset Management LLC now owns 110,000 shares of the utilities provider’s stock valued at $948,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Citigroup Inc. increased its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 81.4% in the third quarter. Citigroup Inc. now owns 13,672 shares of the utilities provider’s stock worth $100,000 after purchasing an additional 6,135 shares during the period. Institutional investors own 6.54% of the company’s stock.

About Centrais Elétricas Brasileiras S.A. – Eletrobrás

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.