Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Down to $7.61

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $7.61, but opened at $7.43. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $7.34, with a volume of 81,106 shares.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “hold” rating in a research note on Saturday.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

The stock has a market capitalization of $17.10 billion, a PE ratio of 8.85, a P/E/G ratio of 2.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.56 and a current ratio of 1.57. The firm has a 50 day moving average of $7.01 and a 200-day moving average of $7.51.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter. The business had revenue of $1.61 billion during the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 12.98% and a return on equity of 4.18%. Research analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Several institutional investors and hedge funds have recently modified their holdings of EBR. Blue Trust Inc. boosted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 232.4% during the second quarter. Blue Trust Inc. now owns 5,748 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 4,019 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 173.8% during the 2nd quarter. Signaturefd LLC now owns 7,668 shares of the utilities provider’s stock valued at $49,000 after buying an additional 4,867 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 18.7% in the 2nd quarter. SG Americas Securities LLC now owns 14,516 shares of the utilities provider’s stock valued at $93,000 after buying an additional 2,284 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the fourth quarter worth approximately $98,000. Finally, Barometer Capital Management Inc. bought a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter valued at approximately $119,000. 6.54% of the stock is currently owned by hedge funds and other institutional investors.

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.