CEMIG (NYSE:CIG – Get Rating) shares were down 2.6% during trading on Wednesday . The company traded as low as $2.04 and last traded at $2.04. Approximately 26,000 shares were traded during trading, a decline of 100% from the average daily volume of 7,104,109 shares. The stock had previously closed at $2.09.
Wall Street Analyst Weigh In
Separately, TheStreet raised CEMIG from a "c+" rating to a "b" rating in a report on Monday, December 12th.
Get
CEMIG alerts:
CEMIG Price Performance
The business has a fifty day simple moving average of $2.08 and a 200 day simple moving average of $2.17. The stock has a market capitalization of $4.53 billion, a P/E ratio of 9.57 and a beta of 0.67. The company has a current ratio of 1.25, a quick ratio of 1.24 and a debt-to-equity ratio of 0.51.
Hedge Funds Weigh In On CEMIG
Hedge funds and other institutional investors have recently modified their holdings of the business. Marshall Wace LLP purchased a new position in shares of CEMIG in the 3rd quarter worth approximately $4,290,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of CEMIG by 12.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 45,891 shares of the utilities provider's stock worth $93,000 after buying an additional 5,229 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new position in shares of CEMIG in the 3rd quarter worth approximately $326,000. Finally, US Bancorp DE boosted its stake in shares of CEMIG by 48.5% in the 2nd quarter. US Bancorp DE now owns 72,962 shares of the utilities provider's stock worth $148,000 after buying an additional 23,845 shares during the last quarter. Hedge funds and other institutional investors own 3.09% of the company's stock.
About CEMIG
(Get Rating)
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.
Further Reading
- Get a free copy of the StockNews.com research report on CEMIG (CIG)
- Here's Why You Should Steer Clear of the FedEx Bounce
- Why Did Viking Therapeutics Stock Skyrocket
- NIKE, Inc Swooshes Higher On Results And Outlook
- Is There a Prize in Store for Kellogg Shareholders?
- Will AMC's Troubles Affect Its Landlord, EPR Properties?
Receive News & Ratings for CEMIG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CEMIG and related companies with MarketBeat.com's FREE daily email newsletter.
