Companhia Paranaense de Energia (COPEL) American Depositary Shares (each representing one Unit consisting one and four non-voting Class B Preferred Shares) (NYSE:ELP) traded at a new 52-week high today of $6.05. This new high was reached on below average trading volume as 673,000 shares traded hands, while the average 30-day volume is approximately 16.4 million shares.
Based on a current price of $5.69, Companhia Paranaense de Energia (COPEL) American Depositary Shares (each representing one Unit consisting one and four non-voting Class B Preferred Shares) is currently 80.4% above its average consensus analyst price target of $1.12.
Cia Paranaense De Energia Copel is primarily involved in the production of power in the Brazilian state of Parana. Specifically, the company's operating segments include power generation and transmission, gas, power distribution, power sale, and telecommunications. Most of the company's revenue is derived from the sale of electricity. It generates electricity through renewable energy sources such as hydroelectric, wind plants, and thermoelectric plants. The company was designed to allow Parana to manage the distribution of power and related services, so the state is a major shareholder.
Over the past year, Companhia Paranaense de Energia (COPEL) American Depositary Shares (each representing one Unit consisting one and four non-voting Class B Preferred Shares) has traded in a range of $0.89 to $6.05 and is now at $5.69, 543% above that low.
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