Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR) Sets New 12-Month Low - Time to Sell?

Shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Get Free Report) reached a new 52-week low during trading on Friday . The company traded as low as $6.00 and last traded at $6.05, with a volume of 181562 shares traded. The stock had previously closed at $6.07.

Wall Street Analysts Forecast Growth

A number of research firms have 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 upgraded shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás from a "buy" rating to a "strong-buy" rating in a report on Friday, November 8th.

Centrais Elétricas Brasileiras S.A. - Eletrobrás Price Performance

The company has a quick ratio of 2.04, a current ratio of 2.06 and a debt-to-equity ratio of 0.47. The stock's fifty day simple moving average is $6.78 and its 200 day simple moving average is $6.95.

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

A number of hedge funds have recently bought and sold shares of the business. Beck Bode LLC grew its stake in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 1,444.6% in the 2nd 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 period. Millennium Management LLC grew its stake in shares of 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 buying an additional 1,100,233 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás in the 3rd quarter valued at approximately $4,338,000. Van ECK Associates Corp grew its stake in shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás by 1.8% in the 3rd quarter. Van ECK Associates Corp now owns 503,475 shares of the utilities provider's stock valued at $3,358,000 after buying an additional 8,975 shares during the period. Finally, American Century Companies Inc. grew its stake 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 valued at $2,543,000 after buying an additional 26,010 shares during the period. Institutional investors and hedge funds own 6.54% of the company's stock.

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.