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 changing hands.

Analyst Upgrades and Downgrades

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

CEMIG Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $5.58 billion, a price-to-earnings ratio of 4.67 and a beta of 1.30. The company has a fifty day moving average of $1.99 and a two-hundred day moving average of $1.97.

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.