Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) Short Interest Up 6.6% in June

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 4,200,000 shares, an increase of 6.6% from the May 31st total of 3,940,000 shares. Based on an average daily trading volume, of 1,130,000 shares, the short-interest ratio is currently 3.7 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Centrais Elétricas Brasileiras S.A. – Eletrobrás from a “buy” rating to a “hold” rating in a report on Thursday, June 27th.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Stock Performance

NYSE EBR opened at $6.58 on Wednesday. Centrais Elétricas Brasileiras S.A. – Eletrobrás has a 52 week low of $6.21 and a 52 week high of $9.11. The company has a 50 day moving average price of $7.00 and a 200 day moving average price of $7.92. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 0.41.

Centrais Elétricas Brasileiras S.A. – Eletrobrás (NYSE:EBR) last announced its earnings results on Thursday, May 9th. The utilities provider reported $0.03 earnings per share (EPS) for the quarter. The company had revenue of $1.76 billion for the quarter. Centrais Elétricas Brasileiras S.A. – Eletrobrás had a return on equity of 4.18% and a net margin of 12.98%. Equities research analysts predict that Centrais Elétricas Brasileiras S.A. – Eletrobrás will post 0.49 earnings per share for the current fiscal year.

Centrais Elétricas Brasileiras S.A. – Eletrobrás Increases Dividend

The business also recently declared an annual dividend, which was paid on Thursday, May 16th. Shareholders of record on Thursday, May 9th were issued a $0.059 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a dividend yield of 0.8%. This is a boost from Centrais Elétricas Brasileiras S.A. – Eletrobrás’s previous annual dividend of $0.04.

Institutional Investors Weigh In On Centrais Elétricas Brasileiras S.A. – Eletrobrás

Institutional investors and hedge funds have recently made changes to their positions in the stock. Barings LLC raised its stake in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 226.6% in the 1st quarter. Barings LLC now owns 993,886 shares of the utilities provider’s stock worth $8,299,000 after acquiring an additional 689,593 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás by 88.5% in the fourth quarter. Van ECK Associates Corp now owns 447,979 shares of the utilities provider’s stock worth $3,862,000 after purchasing an additional 210,327 shares during the last quarter. Beck Bode LLC acquired a new stake in shares of Centrais Elétricas Brasileiras S.A. – Eletrobrás during the first quarter worth about $955,000. Mackenzie Financial Corp boosted its position in Centrais Elétricas Brasileiras S.A. – Eletrobrás by 32.6% in the fourth quarter. Mackenzie Financial Corp now owns 371,263 shares of the utilities provider’s stock valued at $3,200,000 after buying an additional 91,177 shares during the last quarter. Finally, Alpine Global Management LLC acquired a new position in Centrais Elétricas Brasileiras S.A. – Eletrobrás in the 3rd quarter worth approximately $249,000. 6.54% of the stock is currently owned by institutional investors and hedge funds.

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.