Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Reaches New 52-Week Low – Should You Sell?

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $5.54 and last traded at $5.58, with a volume of 1683787 shares changing hands. The stock had previously closed at $5.81.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. 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 upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 8th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Trading Down 5.5 %

The firm has a market cap of $12.63 billion, a PE ratio of 7.84, a PEG ratio of 1.90 and a beta of 1.07. 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 $6.32 and its two-hundred day simple moving average is $6.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Beck Bode LLC raised its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1,444.6% in the second quarter. Beck Bode LLC now owns 1,766,440 shares of the utilities provider’s stock worth $11,358,000 after acquiring an additional 1,652,075 shares during the period. Millennium Management LLC raised its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% during the 2nd quarter. Millennium Management LLC now owns 1,580,932 shares of the utilities provider’s stock valued at $10,165,000 after purchasing an additional 1,100,233 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 3rd quarter valued at $4,338,000. Van ECK Associates Corp grew its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1.8% during the third quarter. Van ECK Associates Corp now owns 503,475 shares of the utilities provider’s stock valued at $3,358,000 after acquiring an additional 8,975 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 7.0% during the second quarter. American Century Companies Inc. now owns 395,550 shares of the utilities provider’s stock valued at $2,543,000 after acquiring an additional 26,010 shares in the last quarter. Institutional investors own 2.64% 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.