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

Shares of CEMIG (NYSE:CIG) dropped 2.8% during mid-day trading on Friday . The stock traded as low as $1.88 and last traded at $1.89. Approximately 3,429,943 shares traded 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

Several research firms have recently commented on CIG. Hsbc Global Res upgraded CEMIG to a “hold” rating in a research note on Friday, January 10th. HSBC downgraded shares of CEMIG from a “buy” rating to a “hold” rating in a research note on Friday, January 10th.

CEMIG Stock Performance

The company has a fifty day moving average of $1.85 and a two-hundred day moving average of $1.93. The stock has a market capitalization of $5.42 billion, a P/E ratio of 3.54 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04.

CEMIG Company Profile

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.