Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Up – Time to Buy?

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) gapped up prior to trading on Monday . The stock had previously closed at $5.92, but opened at $6.09. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $6.03, with a volume of 112,180 shares traded.

Analyst Ratings Changes

A number of research firms recently weighed in on EBR. Hsbc Global Res upgraded shares of 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 research report on Friday, November 8th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Up 2.1 %

The business’s fifty day simple moving average is $5.85 and its 200-day simple moving average is $6.61. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Cuts Dividend

The business also recently declared a — dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, December 30th were issued a $0.1414 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a yield of 1%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Millennium Management LLC increased 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 worth $10,165,000 after buying an additional 1,100,233 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 3rd quarter valued at approximately $4,338,000. Van ECK Associates Corp raised its holdings 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 valued at $3,358,000 after buying an additional 8,975 shares during the period. Thrivent Financial for Lutherans lifted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 36.7% in the second quarter. Thrivent Financial for Lutherans now owns 362,019 shares of the utilities provider’s stock worth $2,328,000 after buying an additional 97,166 shares during the last quarter. Finally, Kapitalo Investimentos Ltda bought a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the third quarter valued at $1,600,000. Hedge funds and other institutional investors own 2.64% of the company’s stock.

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.