Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Shares Gap Up – Should You Buy?

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s share price gapped up prior to trading on Monday . The stock had previously closed at $5.92, but opened at $6.09. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $6.03, with a volume of 112,180 shares traded.

Analysts Set New Price Targets

A number of equities research analysts have commented on EBR shares. Hsbc Global Res upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a research report on Tuesday, October 15th. StockNews.com raised 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 0.7 %

The business’s 50 day moving average price is $5.85 and its 200-day moving average price is $6.60. The company has a quick ratio of 2.04, a current ratio of 2.06 and a debt-to-equity ratio of 0.47.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Cuts Dividend

The company also recently declared a — dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, December 30th were paid a dividend of $0.1414 per share. This represents a yield of 1%. The ex-dividend date was Monday, December 30th.

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

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC increased its stake in 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 worth $10,165,000 after buying an additional 1,100,233 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the third quarter worth $4,338,000. Kapitalo Investimentos Ltda purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the third quarter worth $1,600,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás in the second quarter valued at $938,000. Finally, Main Management ETF Advisors LLC purchased a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the third quarter valued at $926,000. Hedge funds and other institutional investors own 2.64% 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.