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

CEMIG (NYSE:CIG)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $2.07, but opened at $2.01. CEMIG shares last traded at $2.03, with a volume of 310,021 shares trading hands.

Analysts Set New Price Targets

Separately, Scotiabank began coverage on CEMIG in a research note on Thursday, October 31st. They set a “sector perform” rating on the stock.

CEMIG Trading Down 3.9 %

The firm has a 50-day moving average price of $2.00 and a 200-day moving average price of $1.97. The stock has a market capitalization of $5.69 billion, a PE ratio of 4.97 and a beta of 1.30. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28.

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.