Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Stock Price Passes Below 200-Day Moving Average – Here’s Why

Shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.99 and traded as low as $6.16. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $6.21, with a volume of 931,214 shares trading hands.

Analysts Set New Price Targets

Several brokerages have recently issued reports on EBR. Hsbc Global Res upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a report on Tuesday, October 15th. StockNews.com raised shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Up 0.2 %

The company has a 50-day simple moving average of $6.88 and a two-hundred day simple moving average of $6.99. The company has a current ratio of 2.06, a quick ratio of 2.33 and a debt-to-equity ratio of 0.47.

Institutional Trading of Centrais Elétricas Brasileiras S.A. – Eletrobrás

Hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its position in shares of 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 acquiring an additional 4,019 shares in the last quarter. Signaturefd LLC boosted 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 purchasing an additional 4,867 shares during the last quarter. SG Americas Securities LLC increased 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 worth $93,000 after purchasing an additional 2,284 shares during the last quarter. Sivia Capital Partners LLC lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 26.0% in the third quarter. Sivia Capital Partners LLC now owns 12,798 shares of the utilities provider’s stock worth $93,000 after buying an additional 2,642 shares in the last quarter. Finally, First Affirmative Financial Network grew its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 34.3% during the 2nd quarter. First Affirmative Financial Network now owns 19,815 shares of the utilities provider’s stock valued at $127,000 after buying an additional 5,065 shares in the last quarter. 6.54% of the stock is owned by institutional investors.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Company Profile

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.