Companhia Paranaense de Energia (NYSE:ELPC) Sees Strong Trading Volume – Time to Buy?

Companhia Paranaense de Energia (NYSE:ELPC) saw unusually-high trading volume on Tuesday . Approximately 310,174 shares were traded during mid-day trading, an increase of 1,487% from the previous session’s volume of 19,545 shares.The stock last traded at $6.57 and had previously closed at $6.54.

Companhia Paranaense de Energia Trading Down 0.1 %

The company has a fifty day simple moving average of $5.96 and a 200-day simple moving average of $6.00. The company has a market capitalization of $7.19 billion, a PE ratio of 9.60 and a beta of 0.34.

Companhia Paranaense de Energia (NYSE:ELPC) last issued its earnings results on Friday, February 28th. The company reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $1.03 billion during the quarter.

Hedge Funds Weigh In On Companhia Paranaense de Energia

A hedge fund recently raised its stake in Companhia Paranaense de Energia stock. SPX Gestao de Recursos Ltda grew its holdings in Companhia Paranaense de Energia (NYSE:ELPC) by 32.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 68,091 shares of the company’s stock after purchasing an additional 16,780 shares during the period. SPX Gestao de Recursos Ltda’s holdings in Companhia Paranaense de Energia were worth $355,000 as of its most recent filing with the Securities & Exchange Commission.

About Companhia Paranaense de Energia

Companhia Paranaense de Energia – COPEL engages in the generation, transformation, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers in Brazil. The company operates through Power Generation and Transmission, Power Distribution, GAS, Power Sale, and Holding and Services segments.