Centrais Eletricas Brasileiras S.A. (NYSE:EBR) Stock Forecast: Upsidde of 40.48% by 2021

The trading price of Centrais Eletricas Brasileiras S.A. (NYSE:EBR) floating higher at last check on Wednesday, Apr 07, closing at $6.34, 4.42% higher than its previous close.

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Traders who pay close attention to intraday price movement should know that it has been fluctuating between $6.35 and $6.63. The company’s P/E ratio in the trailing 12-month period was 8.99, while its 5Y monthly beta was 0. In examining the 52-week price action we see that the stock hit a 52-week high of $7.75 and a 52-week low of $3.35. Over the past month, the stock has gained 12.81% in value.

On the technical side, indicators suggest EBR has a Hold on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned EBR a recommendation rating is 9. Out of them, 2 rate it a Hold, while 7 recommend Buy, whereas none assign an Outperform rating. None analyst(s) have tagged Centrais Eletricas Brasileiras S.A. (EBR) as Underperform, while not any of them advise Sell. Analysts have rated the stock Buy, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

If we dig deeper into the stock’s outlook, we see that the stock’s PEG is 0, which symbolizes a positive outlook. A quick review shows that EBR’s price is currently 11.49% off the SMA20 and 15.92% off the SMA50. The RSI metric on the 14-day chart is currently showing 68.07, and weekly volatility stands at 3.28%. When measured over the past 30 days, the indicator reaches 3.8%. Centrais Eletricas Brasileiras S.A. (NYSE:EBR)’s beta value is currently sitting at 0, while the Average True Range indicator is currently displaying 0.25. With analysts defining $5.79-$11.33 as the low and high price targets, we arrive at a consensus price target of $8.73 for the trailing 12-month period. The current price is about -12.54% off the estimated low and 71.15% off the forecast high, based on this estimate. Investors will be thrilled if EBR’s share price rises to $9.3, which is the median consensus price. At that level, EBR’s share price would be +40.48% above current price.

To see how Centrais Eletricas Brasileiras S.A. stock has been performing today in comparison to its peers in the industry, here are the numbers: EBR stock’s performance was +4.42% at last check in today’s session, and +53.51% in the past year, while Nextera Energy (NEE) has been trading -0.35% in recent session and positioned +39.97% higher than it was a year ago. Another comparable company Duke Energy Corp (DUK) saw its stock trading 0.22% higher in today’s session but was up +28.35% in a year. Furthermore, Southern Company (SO) showed an increase of 4.42% today while its price kept rising at 53.51% over the past year. Centrais Eletricas Brasileiras S.A. has a P/E ratio of 8.99, compared to Nextera Energy’s 50.76 and Duke Energy Corp’s 56.79. Also during today’s trading, the S&P 500 Index has surged 0.16%, while the Dow Jones Industrial also saw a positive session, up +0.01% today.

An evaluation of the daily trading volume of Centrais Eletricas Brasileiras S.A. (NYSE:EBR) indicates that the 3-month average is 1.55 Million. However, this figure has increased over the past 10 days to an average of 512.67 Million.

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Currently, records show that 1.57 Billion of the company’s shares remain outstanding. According to Thomson Reuters data, insiders hold 0% of outstanding shares, whereas institutions hold 0.81%. The stats also highlight that short interest as of March 14, 2021, stood at 1.88 Million shares, resulting in a short ratio of 1.06 at that time. From this, we can conclude that short interest is 0.12% of the company’s total outstanding shares. It is noteworthy that short shares in March were up slightly from the previous month’s figure, which was 1.44 Million. However, since the stock’s price has seen -9.3% year-to-date, investors’ interest is likely to be reignited due to its potential to move higher ahead.

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