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

CEMIG (NYSE:CIG)’s share price gapped down prior to trading 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.

Wall Street Analyst Weigh In

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

CEMIG Stock Performance

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

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.