Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Hits New 52-Week Low – Here’s What Happened

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) reached a new 52-week low on Friday . The company traded as low as $5.56 and last traded at $5.56, with a volume of 22154 shares. The stock had previously closed at $6.01.

Analysts Set New Price Targets

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

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.06. The stock has a 50-day moving average price of $6.65 and a 200-day moving average price of $6.92.

Hedge Funds Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

A number of institutional investors have recently made changes to their positions in EBR. Beck Bode LLC increased its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% in the second quarter. Beck Bode LLC now owns 1,766,440 shares of the utilities provider’s stock worth $11,358,000 after buying an additional 1,652,075 shares during the last quarter. Millennium Management LLC grew its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% during the 2nd quarter. Millennium Management LLC now owns 1,580,932 shares of the utilities provider’s stock worth $10,165,000 after acquiring an additional 1,100,233 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 3rd quarter worth about $4,338,000. Van ECK Associates Corp raised its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 108.7% in the 2nd quarter. Van ECK Associates Corp now owns 494,500 shares of the utilities provider’s stock valued at $3,180,000 after purchasing an additional 257,613 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the third quarter worth about $1,600,000. 6.54% of the stock is owned by institutional investors and hedge funds.

About Centrais Elétricas Brasileiras S.A. – Eletrobrás

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.