Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Up 4.4% – Here’s What Happened

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) 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 trading, an increase of 83% from the average session volume of 1,006,462 shares. The stock had previously closed at $5.49.

Analyst Ratings Changes

EBR has been the subject of several research reports. Hsbc Global Res upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a research note on Tuesday, October 15th. StockNews.com upgraded 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 3.6 %

The firm has a market cap of $13.09 billion, a price-to-earnings ratio of 8.13, a P/E/G ratio of 1.90 and a beta of 1.07. The firm’s 50-day moving average is $6.30 and its 200-day moving average is $6.79. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Beck Bode LLC lifted its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% during the 2nd quarter. Beck Bode LLC now owns 1,766,440 shares of the utilities provider’s stock valued at $11,358,000 after acquiring an additional 1,652,075 shares in the last quarter. Millennium Management LLC grew its position in 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 worth $10,165,000 after purchasing an additional 1,100,233 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 3rd quarter valued at about $4,338,000. Van ECK Associates Corp lifted its position in shares of 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 buying an additional 8,975 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of 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 worth $2,543,000 after buying an additional 26,010 shares in the last quarter. 2.64% 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.