Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Trading Up 4.4% – Here’s Why

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s stock price traded up 4.4% on Thursday . The stock traded as high as $5.74 and last traded at $5.73. 1,839,682 shares changed hands during mid-day trading, an increase of 83% from the average session volume of 1,006,462 shares. The stock had previously closed at $5.49.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. 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 upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 8th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

The firm’s fifty day moving average is $6.27 and its 200-day moving average is $6.78. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $13.35 billion, a PE ratio of 8.29, a price-to-earnings-growth ratio of 1.90 and a beta of 1.07.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Beck Bode LLC increased its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% in the 2nd quarter. Beck Bode LLC now owns 1,766,440 shares of the utilities provider’s stock valued at $11,358,000 after purchasing an additional 1,652,075 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% in the 2nd quarter. Millennium Management LLC now owns 1,580,932 shares of the utilities provider’s stock valued at $10,165,000 after buying an additional 1,100,233 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 3rd quarter valued at $4,338,000. Van ECK Associates Corp lifted its stake 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. Finally, American Century Companies Inc. boosted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 7.0% during the 2nd quarter. American Century Companies Inc. now owns 395,550 shares of the utilities provider’s stock valued at $2,543,000 after acquiring an additional 26,010 shares during the period. 2.64% of the stock is owned by hedge funds and other 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.