CEMIG (NYSE:CIG) Shares Gap Down – What’s Next?

CEMIG (NYSE:CIG)’s share price gapped down before the market opened on Friday . The stock had previously closed at $1.79, but opened at $1.75. CEMIG shares last traded at $1.75, with a volume of 97,561 shares traded.

Analyst Upgrades and Downgrades

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

CEMIG Stock Down 3.1 %

The firm’s 50-day moving average is $1.92 and its two-hundred day moving average is $1.96. The stock has a market cap of $4.97 billion, a P/E ratio of 3.24 and a beta of 1.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96.

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.