Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR) Shares Down 3.5% - Here's What Happened

Centrais Elétricas Brasileiras S.A. - Eletrobrás (NYSE:EBR - Get Free Report)'s share price was down 3.5% during trading on Friday . The stock traded as low as $6.35 and last traded at $6.35. Approximately 242,551 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 931,463 shares. The stock had previously closed at $6.58.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on EBR shares. Hsbc Global Res upgraded shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás to a "strong-buy" rating in a research report on Tuesday, October 15th. StockNews.com raised shares of Centrais Elétricas Brasileiras S.A. - Eletrobrás from a "hold" rating to a "buy" rating in a research note on Monday, September 23rd.

Centrais Elétricas Brasileiras S.A. - Eletrobrás Trading Down 4.1 %

The stock's 50-day moving average is $7.15 and its 200-day moving average is $7.08. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.33 and a current ratio of 2.35.

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

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

A number of hedge funds have recently bought and sold shares of EBR. Blue Trust Inc. raised its stake in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 232.4% during the second quarter. Blue Trust Inc. now owns 5,748 shares of the utilities provider's stock worth $37,000 after purchasing an additional 4,019 shares during the period. Signaturefd LLC raised its stake in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 173.8% during the second quarter. Signaturefd LLC now owns 7,668 shares of the utilities provider's stock worth $49,000 after purchasing an additional 4,867 shares during the period. SG Americas Securities LLC raised its stake in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 18.7% during the second quarter. SG Americas Securities LLC now owns 14,516 shares of the utilities provider's stock worth $93,000 after purchasing an additional 2,284 shares during the period. Sivia Capital Partners LLC raised its stake in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 26.0% during the third quarter. Sivia Capital Partners LLC now owns 12,798 shares of the utilities provider's stock worth $93,000 after purchasing an additional 2,642 shares during the period. Finally, First Affirmative Financial Network raised its stake in Centrais Elétricas Brasileiras S.A. - Eletrobrás by 34.3% during the second quarter. First Affirmative Financial Network now owns 19,815 shares of the utilities provider's stock worth $127,000 after purchasing an additional 5,065 shares during the period. Institutional investors and hedge funds 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.