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

Shares of CEMIG (NYSE:CIG) gapped down prior to trading on Friday . The stock had previously closed at $2.00, but opened at $1.89. CEMIG shares last traded at $1.94, with a volume of 2,246,327 shares traded.

Wall Street Analysts Forecast Growth

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

CEMIG Stock Performance

The company has a 50-day moving average price of $1.99 and a two-hundred day moving average price of $1.97. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $5.58 billion, a P/E ratio of 4.67 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.