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 trading hands.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. StockNews.com upgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. Hsbc Global Res upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás to a “strong-buy” rating in a report on Tuesday, October 15th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Up 0.2 %

The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.04 and a current ratio of 2.06. The stock’s fifty day moving average price is $6.78 and its two-hundred day moving average price is $6.96.

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

Several hedge funds have recently made changes to their positions in EBR. Blue Trust Inc. boosted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 232.4% in the second quarter. Blue Trust Inc. now owns 5,748 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 4,019 shares in the last quarter. Signaturefd LLC raised its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 173.8% in the second quarter. Signaturefd LLC now owns 7,668 shares of the utilities provider’s stock worth $49,000 after buying an additional 4,867 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 26.0% in the third quarter. Sivia Capital Partners LLC now owns 12,798 shares of the utilities provider’s stock worth $93,000 after buying an additional 2,642 shares during the period. SG Americas Securities LLC boosted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 18.7% during the 2nd quarter. SG Americas Securities LLC now owns 14,516 shares of the utilities provider’s stock valued at $93,000 after acquiring an additional 2,284 shares in the last quarter. Finally, First Affirmative Financial Network grew its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 34.3% during the 2nd quarter. First Affirmative Financial Network now owns 19,815 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 5,065 shares during the period. 6.54% of the stock is owned by hedge funds and other institutional investors.

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.