CEMIG (NYSE:CIG) Stock Price Down 5.3% – What’s Next?

Shares of CEMIG (NYSE:CIG) traded down 5.3% during trading on Friday . The stock traded as low as $1.88 and last traded at $1.87. 424,529 shares traded hands during trading, a decline of 80% from the average session volume of 2,170,578 shares. The stock had previously closed at $1.97.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. HSBC lowered shares of CEMIG from a “buy” rating to a “hold” rating in a research note on Friday, January 10th. Hsbc Global Res upgraded shares of CEMIG to a “hold” rating in a research report on Friday, January 10th.

CEMIG Stock Performance

The firm’s 50 day simple moving average is $1.87 and its 200-day simple moving average is $1.93. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $5.28 billion, a price-to-earnings ratio of 3.43 and a beta of 1.30.

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.