CEMIG (NYSE:CIG) Stock Price Down 2.8% – What’s Next?

CEMIG (NYSE:CIG)’s share price was down 2.8% on Friday . The company traded as low as $1.88 and last traded at $1.89. Approximately 3,429,943 shares changed hands during trading, an increase of 67% from the average daily volume of 2,052,974 shares. The stock had previously closed at $1.94.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CIG shares. Hsbc Global Res upgraded CEMIG to a “hold” rating in a research report on Friday, January 10th. HSBC lowered CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th.

CEMIG Price Performance

The firm has a market capitalization of $5.42 billion, a P/E ratio of 3.54 and a beta of 1.30. The business has a fifty day moving average of $1.86 and a 200-day moving average of $1.93. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04.

About CEMIG

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.