Short Interest in Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Grows By 10.5%

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was the target of a significant growth in short interest in the month of December. As of December 31st, there was short interest totalling 5,590,000 shares, a growth of 10.5% from the December 15th total of 5,060,000 shares. Based on an average trading volume of 1,450,000 shares, the days-to-cover ratio is currently 3.9 days.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

Shares of NYSE:EBR traded up $0.07 during trading hours on Monday, hitting $5.79. 1,452,317 shares of the company’s stock traded hands, compared to its average volume of 1,921,075. 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 company’s fifty day simple moving average is $5.88 and its two-hundred day simple moving average is $6.65. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52 week low of $5.45 and a 52 week high of $9.11.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Monday, December 30th will be given a $0.1414 dividend. The ex-dividend date is Monday, December 30th. This represents a yield of 1%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EBR. 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. Hsbc Global Res upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a report on Tuesday, October 15th.

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

A number of institutional investors and hedge funds have recently modified their holdings of EBR. American Century Companies Inc. grew its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 7.0% in the 2nd quarter. American Century Companies Inc. now owns 395,550 shares of the utilities provider’s stock worth $2,543,000 after acquiring an additional 26,010 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the second quarter valued at $386,000. Thrivent Financial for Lutherans boosted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 36.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 362,019 shares of the utilities provider’s stock valued at $2,328,000 after purchasing an additional 97,166 shares during the period. Cubist Systematic Strategies LLC purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 2nd quarter worth about $938,000. Finally, AQR Capital Management LLC raised its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 14.2% during the 2nd quarter. AQR Capital Management LLC now owns 71,414 shares of the utilities provider’s stock worth $459,000 after buying an additional 8,878 shares during the period. Institutional investors and hedge funds 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.