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

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) saw a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,650,000 shares, a growth of 11.8% from the August 15th total of 2,370,000 shares. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is presently 2.6 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “hold” rating in a research report on Saturday, August 31st.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

Shares of EBR stock traded up $0.11 during trading hours on Monday, hitting $7.65. 591,187 shares of the company’s stock were exchanged, compared to its average volume of 953,408. The company has a current ratio of 2.35, a quick ratio of 2.33 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $7.19 and a two-hundred day moving average of $7.40. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a fifty-two week low of $6.21 and a fifty-two week high of $9.11.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last posted its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.14 EPS for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a return on equity of 4.18% and a net margin of 13.37%. The business had revenue of $1.61 billion for the quarter. On average, equities research analysts predict that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 EPS for the current fiscal year.

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

Institutional investors have recently made changes to their positions in the company. Barometer Capital Management Inc. acquired a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter worth $119,000. Sivia Capital Partners LLC acquired a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter worth $98,000. Barings LLC increased its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 226.6% during the first quarter. Barings LLC now owns 993,886 shares of the utilities provider’s stock worth $8,299,000 after acquiring an additional 689,593 shares during the last quarter. Beck Bode LLC acquired a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás during the first quarter worth $955,000. Finally, First Affirmative Financial Network grew its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 34.3% in the second quarter. First Affirmative Financial Network now owns 19,815 shares of the utilities provider’s stock valued at $127,000 after buying an additional 5,065 shares in the last quarter. Hedge funds and other institutional investors own 6.54% 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.