Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Stock Price Down 3.5% – What’s Next?

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s stock price traded down 3.5% during mid-day trading on Friday . The company traded as low as $6.35 and last traded at $6.35. 242,551 shares were traded during trading, a decline of 74% from the average session volume of 931,463 shares. The stock had previously closed at $6.58.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Hsbc Global Res upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “hold” rating to a “buy” rating in a report on Monday, September 23rd.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Down 4.4 %

The firm has a 50-day moving average of $7.15 and a 200 day moving average of $7.08. The company has a current ratio of 2.35, a quick ratio of 2.33 and a debt-to-equity ratio of 0.54.

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

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

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1.8% during the 3rd quarter. Van ECK Associates Corp now owns 503,475 shares of the utilities provider’s stock worth $3,358,000 after acquiring an additional 8,975 shares in the last quarter. Deltec Asset Management LLC lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 9.1% during the 3rd quarter. Deltec Asset Management LLC now owns 120,000 shares of the utilities provider’s stock worth $868,000 after acquiring an additional 10,000 shares in the last quarter. Signaturefd LLC lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 22.0% during the 3rd quarter. Signaturefd LLC now owns 9,353 shares of the utilities provider’s stock worth $68,000 after acquiring an additional 1,685 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 30.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 21,755 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 5,089 shares in the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 3rd quarter worth approximately $1,600,000. 6.54% of the stock is owned by institutional investors and hedge funds.

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.