Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Short Interest Up 10.5% in January

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totalling 5,590,000 shares, an increase of 10.5% from the December 31st total of 5,060,000 shares. Based on an average daily trading volume, of 1,450,000 shares, the days-to-cover ratio is currently 3.9 days.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on EBR shares. Hsbc Global Res raised shares of 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 report on Friday, November 8th.

Hedge Funds Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC boosted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 228.9% in the second quarter. Millennium Management LLC now owns 1,580,932 shares of the utilities provider’s stock worth $10,165,000 after purchasing an additional 1,100,233 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 3rd quarter valued at about $4,338,000. Van ECK Associates Corp increased its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 4.1% during the 4th quarter. Van ECK Associates Corp now owns 524,314 shares of the utilities provider’s stock valued at $2,999,000 after purchasing an additional 20,839 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 1.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 255,183 shares of the utilities provider’s stock valued at $1,460,000 after buying an additional 4,308 shares during the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the third quarter worth about $1,600,000. 2.64% of the stock is currently owned by institutional investors.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Up 1.9 %

NYSE:EBR traded up $0.12 during midday trading on Monday, reaching $6.31. 1,291,379 shares of the stock traded hands, compared to its average volume of 1,636,027. The company has a fifty day moving average of $5.85 and a 200 day moving average of $6.57. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 12 month low of $5.45 and a 12 month high of $9.11. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Cuts Dividend

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

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.