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

CEMIG (NYSE:CIG)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $1.90, but opened at $1.85. CEMIG shares last traded at $1.83, with a volume of 253,143 shares traded.

Wall Street Analyst Weigh In

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

CEMIG Stock Up 4.0 %

The company’s 50 day moving average is $1.95 and its two-hundred day moving average is $1.96. The company has a market capitalization of $5.27 billion, a PE ratio of 3.44 and a beta of 1.31. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.

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.