Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Sees Large Decrease in Short Interest

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) was the recipient of a significant decline in short interest in the month of March. As of March 15th, there was short interest totalling 1,600,000 shares, a decline of 14.0% from the February 28th total of 1,860,000 shares. Based on an average daily volume of 1,460,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of Centrais Elétricas Brasileiras S.A. – Eletrobrás

Several large investors have recently bought and sold shares of EBR. Millennium Management LLC increased its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 336.5% in the fourth quarter. Millennium Management LLC now owns 4,196,607 shares of the utilities provider’s stock valued at $24,005,000 after buying an additional 3,235,114 shares during the period. Point72 Asset Management L.P. purchased a new stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 4th quarter valued at $1,406,000. Two Sigma Investments LP lifted its position in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 230.9% during the fourth quarter. Two Sigma Investments LP now owns 316,380 shares of the utilities provider’s stock valued at $1,810,000 after purchasing an additional 220,780 shares in the last quarter. Walleye Capital LLC purchased a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the fourth quarter valued at approximately $999,000. Finally, Trexquant Investment LP boosted its holdings in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 173.4% in the 4th quarter. Trexquant Investment LP now owns 219,079 shares of the utilities provider’s stock worth $1,253,000 after buying an additional 138,951 shares during the last quarter. 2.64% of the stock is owned by institutional investors and hedge funds.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

EBR stock traded up $0.23 during mid-day trading on Thursday, hitting $7.35. 889,839 shares of the company were exchanged, compared to its average volume of 1,178,403. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 1-year low of $5.45 and a 1-year high of $8.41. The business has a 50 day simple moving average of $6.64 and a 200-day simple moving average of $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 stock has a market capitalization of $16.51 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 4.35 and a beta of 1.00.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last released its quarterly earnings results 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 business had revenue of $1.67 billion during the quarter, compared to analyst estimates of $10.17 billion. On average, equities analysts forecast that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.32 earnings per share for the current year.

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.