CEMIG (NYSE:CIG) Shares Gap Down – Here’s Why

CEMIG (NYSE:CIG) gapped down before the market opened on Friday . The stock had previously closed at $1.79, but opened at $1.75. CEMIG shares last traded at $1.75, with a volume of 97,561 shares.

Wall Street Analyst Weigh In

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

CEMIG Stock Performance

The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 3.23 and a beta of 1.31. 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’s 50 day moving average is $1.92 and its 200 day moving average is $1.96.

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.