CEMIG (NYSE:CIG) Stock Price Down 2.8% – Should You Sell?

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

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. HSBC downgraded shares of CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th. Hsbc Global Res raised shares of CEMIG to a “hold” rating in a research note on Friday, January 10th.

CEMIG Trading Down 2.3 %

The firm has a 50-day moving average of $1.85 and a 200 day moving average of $1.93. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 3.54 and a beta of 1.30.

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.