CEMIG (NYSE:CIG) Stock Price Down 5.3% – Here’s Why

CEMIG (NYSE:CIG)’s share price was down 5.3% during trading on Friday . The company traded as low as $1.88 and last traded at $1.87. Approximately 424,529 shares changed hands during trading, a decline of 80% from the average daily volume of 2,170,578 shares. The stock had previously closed at $1.97.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CIG shares. Hsbc Global Res raised CEMIG to a “hold” rating in a report on Friday, January 10th. HSBC downgraded CEMIG from a “buy” rating to a “hold” rating in a report on Friday, January 10th.

CEMIG Price Performance

The firm has a market capitalization of $5.28 billion, a PE ratio of 3.45 and a beta of 1.30. The stock has a 50-day moving average price of $1.87 and a 200 day moving average price of $1.93. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35.

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.