Companhia Paranaense de Energia (NYSE:ELPC) Trading Down 8% – Time to Sell?

Shares of Companhia Paranaense de Energia (NYSE:ELPC) were down 8% during mid-day trading on Monday . The stock traded as low as $6.46 and last traded at $6.37. Approximately 4,214 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 16,640 shares. The stock had previously closed at $6.93.

Companhia Paranaense de Energia Stock Down 1.7 %

The firm has a market capitalization of $6.81 billion, a P/E ratio of 9.09 and a beta of -0.31. The firm has a 50 day moving average of $6.25 and a 200-day moving average of $5.97.

Companhia Paranaense de Energia (NYSE:ELPC) last released its earnings results on Friday, February 28th. The company reported $0.13 earnings per share (EPS) for the quarter. The company had revenue of $1.03 billion for the quarter.

Hedge Funds Weigh In On Companhia Paranaense de Energia

An institutional investor recently raised its position in Companhia Paranaense de Energia stock. SPX Gestao de Recursos Ltda boosted its position in Companhia Paranaense de Energia (NYSE:ELPC) by 32.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,091 shares of the company’s stock after acquiring 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 reporting period.

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.