Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Short Interest Up 8.2% in August

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) saw a significant growth in short interest in the month of August. As of August 15th, there was short interest totalling 2,370,000 shares, a growth of 8.2% from the July 31st total of 2,190,000 shares. Based on an average trading volume of 1,030,000 shares, the short-interest ratio is presently 2.3 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of EBR. Barings LLC acquired a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 4th quarter worth $2,623,000. Van ECK Associates Corp lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 88.5% in the 4th quarter. Van ECK Associates Corp now owns 447,979 shares of the utilities provider’s stock valued at $3,862,000 after purchasing an additional 210,327 shares during the last quarter. Blue Trust Inc. increased its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 232.4% in the 2nd quarter. Blue Trust Inc. now owns 5,748 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 4,019 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the fourth quarter worth about $200,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 18.7% in the second quarter. SG Americas Securities LLC now owns 14,516 shares of the utilities provider’s stock valued at $93,000 after acquiring an additional 2,284 shares in the last quarter. 6.54% of the stock is owned by institutional investors and hedge funds.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Up 0.4 %

Shares of NYSE:EBR opened at $7.43 on Monday. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a fifty-two week low of $6.21 and a fifty-two week high of $9.11. The company has a quick ratio of 2.33, a current ratio of 2.35 and a debt-to-equity ratio of 0.54. The firm’s 50-day simple moving average is $7.01 and its 200-day simple moving average is $7.49.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a return on equity of 4.18% and a net margin of 13.37%. The business had revenue of $1.61 billion during the quarter. As a group, equities analysts predict that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 EPS for the current year.

Analyst Ratings Changes

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

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.