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Eletrobras Approves Key SEC Filing for 2023
TipRanks (Thu, 2-May 6:01 PM ET)
Eletrobras Secures R$1.5 Billion in Subsidiaries’ Debentures
TipRanks (Thu, 2-May 7:31 AM ET)
Centrais Eletricas Brasileiras SA, or Eletrobras, is a mixed capital, Brazilian electric utility company of which the majority shareholder is the Government of Brazil. Eletrobras, through its subsidiaries, controls a sizable amount of total installed electricity generation, transmission, and distribution in Brazil. The company operates a portfolio of wind, thermal, hydro, and nuclear power plants located throughout the country. The vast majority of the total energy produced by Eletrobras comes from its hydroelectric facilities. The company primarily generates revenue from the sale of electricity to distribution companies and free consumers. About half of Eletrobras' electricity sales are made using free market agreements, while the other half are completed through auctions and contracts.
Centrais Electricas Brasileiras S.A.- Eletrobr?!s American Depositary Shares (Each representing one Preferred Share) trades on the NYSE stock market under the symbol EBR.B.
As of May 7, 2024, EBR.B stock price climbed to $8.81 with 21,618 million shares trading.
EBR.B has a market cap of $13.82 billion. This is considered a Large Cap stock.
In the last 3 years, EBR.B stock traded as high as $11.15 and as low as $5.14.
EBR.B has underperformed the market in the last year with a return of +14.6%, while the SPY ETF gained +27.0%. In the last 3 month period, EBR.B fell short of the market, returning -9.1%, while SPY returned +5.0%. However, in the most recent 2 weeks EBR.B has outperformed the stock market by returning +6.3%, while SPY returned +3.5%.
EBR.B support price is $8.33 and resistance is $9.07 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that EBR.B stock will trade within this expected range on the day.