CEMIG (NYSE:CIG) Shares Gap Down – Time to Sell?

CEMIG (NYSE:CIG) gapped down before the market opened on Thursday . The stock had previously closed at $2.07, but opened at $2.01. CEMIG shares last traded at $2.03, with a volume of 310,021 shares traded.

Wall Street Analysts Forecast Growth

Separately, Scotiabank started coverage on CEMIG in a research report on Thursday, October 31st. They set a “sector perform” rating on the stock.

CEMIG Price Performance

The firm has a market capitalization of $5.68 billion, a price-to-earnings ratio of 4.75 and a beta of 1.30. The stock has a 50 day moving average of $2.00 and a 200 day moving average of $1.97. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.

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.