Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Down – Here’s Why

Shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) gapped down before the market opened on Thursday . The stock had previously closed at $6.23, but opened at $6.05. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $6.03, with a volume of 96,935 shares changing hands.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. StockNews.com upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th. Hsbc Global Res upgraded 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 Up 0.2 %

The firm has a fifty day moving average price of $6.78 and a two-hundred day moving average price of $6.96. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47.

Institutional Inflows and Outflows

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

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.