Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Short Interest Up 11.8% in August

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,650,000 shares, a growth of 11.8% from the August 15th total of 2,370,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 2.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “hold” rating in a research note on Saturday, August 31st.

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

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 232.4% in 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 in the last quarter. Signaturefd LLC boosted its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 173.8% during the second quarter. Signaturefd LLC now owns 7,668 shares of the utilities provider’s stock worth $49,000 after buying an additional 4,867 shares during the period. SG Americas Securities LLC boosted its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 18.7% during the second quarter. SG Americas Securities LLC now owns 14,516 shares of the utilities provider’s stock worth $93,000 after buying an additional 2,284 shares during the period. Sivia Capital Partners LLC purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter worth $98,000. Finally, Barometer Capital Management Inc. bought a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter worth $119,000. Institutional investors own 6.54% of the company’s stock.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

Shares of NYSE:EBR traded up $0.11 during trading on Monday, hitting $7.65. The company’s stock had a trading volume of 591,187 shares, compared to its average volume of 953,408. The company has a 50-day moving average of $7.19 and a 200-day moving average of $7.40. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 12 month low of $6.21 and a 12 month high of $9.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.35 and a quick ratio of 2.33.

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

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.