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

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) shares gapped up before the market opened 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 changing hands.

Analyst Ratings Changes

Several analysts have recently weighed in 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 upgraded shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Price Performance

The stock has a 50-day simple moving average of $5.85 and a two-hundred day simple moving average of $6.61. 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 firm also recently announced a — dividend, which was paid on Tuesday, January 21st. Shareholders of record on Monday, December 30th were issued a dividend of $0.1414 per share. This represents a yield of 1%. The ex-dividend date was Monday, December 30th.

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

A number of hedge funds and other institutional investors have recently modified their holdings of EBR. Signaturefd LLC lifted its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 22.0% during the third quarter. Signaturefd LLC now owns 9,353 shares of the utilities provider’s stock worth $68,000 after buying an additional 1,685 shares during the period. Sivia Capital Partners LLC lifted its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 26.0% during the 3rd quarter. Sivia Capital Partners LLC now owns 12,798 shares of the utilities provider’s stock worth $93,000 after purchasing an additional 2,642 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 30.5% during the third quarter. Sequoia Financial Advisors LLC now owns 21,755 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 5,089 shares in the last quarter. Quantinno Capital Management LP grew its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 55.6% in the third quarter. Quantinno Capital Management LP now owns 21,938 shares of the utilities provider’s stock valued at $159,000 after purchasing an additional 7,843 shares during the last quarter. Finally, First Affirmative Financial Network grew its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 41.9% in the third quarter. First Affirmative Financial Network now owns 28,122 shares of the utilities provider’s stock valued at $203,000 after purchasing an additional 8,307 shares during the last quarter. 2.64% of the stock is currently owned by institutional investors.

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.