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

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $7.12, but opened at $7.35. Centrais Elétricas Brasileiras S.A. – Eletrobrás shares last traded at $7.39, with a volume of 94,782 shares traded.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Up 3.4 %

The company’s 50 day simple moving average is $6.64 and its 200-day simple moving average is $6.44. The company has a current ratio of 2.06, a quick ratio of 2.04 and a debt-to-equity ratio of 0.47. The firm has a market cap of $16.53 billion, a P/E ratio of 8.98, a PEG ratio of 4.35 and a beta of 1.00.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last issued its quarterly earnings data on Friday, March 14th. The utilities provider reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). Centrais Elétricas Brasileiras S.A. – Eletrobrás had a net margin of 26.50% and a return on equity of 9.00%. The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $10.17 billion. Research analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. increased its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 51.8% during the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 4,478 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 1,528 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 124.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 6,988 shares of the utilities provider’s stock valued at $40,000 after buying an additional 3,870 shares during the last quarter. Barclays PLC raised its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 301.9% in the fourth quarter. Barclays PLC now owns 10,047 shares of the utilities provider’s stock worth $57,000 after acquiring an additional 7,547 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 4th quarter worth $62,000. Finally, First Trust Advisors LP bought a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the 4th quarter valued at $81,000. 2.64% of the stock is owned by hedge funds and other 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.