Centrais Electricas Brasileiras S A American Depositary Shares (Each representing one) (NYSE:EBR) traded today at a new 52-week high of $9.80. So far today approximately 1.1 million shares have been exchanged, as compared to an average 30-day volume of 1.6 million shares.
Centrais Electricas Brasileiras S A American Depositary Shares (Each representing one) (NYSE:EBR) is currently priced 22.1% above its average consensus analyst price target of $7.44.
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.
In the past 52 weeks, shares of Centrais Electricas Brasileiras S A American Depositary Shares (Each representing one) have traded between a low of $5.17 and a high of $9.80 and is now at $9.55, which is 85% above that low price.
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