Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Sees Significant Decline in Short Interest

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 3,430,000 shares, a decrease of 13.6% from the September 30th total of 3,970,000 shares. Based on an average trading volume of 816,300 shares, the short-interest ratio is currently 4.2 days.

Institutional Trading of Centrais Elétricas Brasileiras S.A. – Eletrobrás

A number of hedge funds and other institutional investors have recently modified their holdings of EBR. Deltec Asset Management LLC increased its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 9.1% during the 3rd quarter. Deltec Asset Management LLC now owns 120,000 shares of the utilities provider’s stock worth $868,000 after purchasing an additional 10,000 shares during the period. Signaturefd LLC lifted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 22.0% in the 3rd quarter. Signaturefd LLC now owns 9,353 shares of the utilities provider’s stock valued at $68,000 after buying an additional 1,685 shares during the period. Sequoia Financial Advisors LLC raised its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 30.5% in the third quarter. Sequoia Financial Advisors LLC now owns 21,755 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 5,089 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the third quarter valued at $1,600,000. Finally, Creative Planning grew its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 93.2% during the third quarter. Creative Planning now owns 55,849 shares of the utilities provider’s stock valued at $404,000 after acquiring an additional 26,938 shares during the period. 6.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EBR. Hsbc Global Res raised shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a research note on Tuesday, October 15th. StockNews.com raised shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “hold” rating to a “buy” rating in a research report on Monday, September 23rd.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

Shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás stock traded down $0.07 on Tuesday, reaching $6.66. 270,796 shares of the stock were exchanged, compared to its average volume of 936,048. The firm has a market capitalization of $15.33 billion, a price-to-earnings ratio of 9.49, a PEG ratio of 2.09 and a beta of 1.09. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a twelve month low of $6.21 and a twelve month high of $9.11. The business has a 50 day moving average price of $7.23 and a two-hundred day moving average price of $7.10. The company has a quick ratio of 2.33, a current ratio of 2.35 and a debt-to-equity ratio of 0.54.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last posted its earnings results on Thursday, August 8th. The utilities provider reported $0.14 earnings per share (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 business had revenue of $1.61 billion for the quarter. Analysts anticipate that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current fiscal year.

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.