Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Down – What’s Next?

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s stock price 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.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com upgraded 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 Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a research report on Tuesday, October 15th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The business has a fifty day simple moving average of $6.83 and a 200 day simple moving average of $6.98.

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

Hedge funds have recently made changes to their positions in the stock. Beck Bode LLC increased its position in 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 acquiring an additional 1,652,075 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 30.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 21,755 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 5,089 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the third quarter worth $1,600,000. Van ECK Associates Corp boosted its position 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 buying an additional 257,613 shares during the period. Finally, Thrivent Financial for Lutherans boosted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 36.7% during the second quarter. Thrivent Financial for Lutherans now owns 362,019 shares of the utilities provider’s stock valued at $2,328,000 after purchasing an additional 97,166 shares during the last quarter. Institutional investors 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.