Companhia Paranaense de Energia (NYSE:ELPC) Shares Gap Down – Here’s Why

Companhia Paranaense de Energia (NYSE:ELPC) gapped down before the market opened on Friday . The stock had previously closed at $6.20, but opened at $5.65. Companhia Paranaense de Energia shares last traded at $6.13, with a volume of 312 shares trading hands.

Companhia Paranaense de Energia Stock Performance

The firm’s 50 day simple moving average is $5.70 and its 200 day simple moving average is $6.06.

Companhia Paranaense de Energia (NYSE:ELPC) last issued its earnings results on Friday, February 28th. The company reported $0.13 EPS for the quarter.

Institutional Investors Weigh In On Companhia Paranaense de Energia

A hedge fund recently raised its stake in Companhia Paranaense de Energia stock. SPX Gestao de Recursos Ltda raised its holdings in Companhia Paranaense de Energia (NYSE:ELPC) by 32.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,091 shares of the company’s stock after buying an additional 16,780 shares during the quarter. SPX Gestao de Recursos Ltda’s holdings in Companhia Paranaense de Energia were worth $355,000 at the end of the most recent quarter.

About Companhia Paranaense de Energia

Companhia Paranaense de Energia – COPEL engages in the generation, transformation, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers in Brazil. The company operates through Power Generation and Transmission, Power Distribution, GAS, Power Sale, and Holding and Services segments.