Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR) Sets New 12-Month Low - Here's Why

Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $6.20 and last traded at $6.20, with a volume of 13879 shares traded. The stock had previously closed at $6.38.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Hsbc Global Res upgraded Centrais Elétricas Brasileiras S.A. - Eletrobrás to a "strong-buy" rating in a research note on Tuesday, October 15th. StockNews.com raised 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 Trading Down 2.5 %

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's 50-day moving average price is $7.06 and its two-hundred day moving average price is $7.05.

Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The utilities provider reported $0.14 earnings per share (EPS) for the quarter. The firm had revenue of $1.61 billion during the quarter. Centrais Elétricas Brasileiras S.A. - Eletrobrás had a net margin of 13.37% and a return on equity of 4.18%. Research analysts forecast that Centrais Elétricas Brasileiras S.A. - Eletrobrás will post 0.32 earnings per share for the current year.

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

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 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 worth $11,358,000 after purchasing an additional 1,652,075 shares during the last quarter. Millennium Management LLC increased 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. Barings LLC increased its position in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 226.6% in the 1st quarter. Barings LLC now owns 993,886 shares of the utilities provider's stock valued at $8,299,000 after acquiring an additional 689,593 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 108.7% in the second quarter. Van ECK Associates Corp now owns 494,500 shares of the utilities provider's stock worth $3,180,000 after acquiring an additional 257,613 shares during the last quarter. Finally, Kapitalo Investimentos Ltda acquired a new position in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás during the third quarter worth approximately $1,600,000. 6.54% of the stock is owned by institutional investors and hedge funds.

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.