Comp En De Mn Cemig ADS (NYSE:CIG) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Comp En De Mn Cemig ADS (NYSE:CIG) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.85 and traded as high as $1.91. Comp En De Mn Cemig ADS shares last traded at $1.88, with a volume of 1,438,945 shares changing hands.

Wall Street Analyst Weigh In

Separately, Bank of America downgraded Comp En De Mn Cemig ADS from a “neutral” rating to an “underperform” rating in a report on Tuesday, April 1st.

Comp En De Mn Cemig ADS Stock Down 2.3%

The firm has a fifty day simple moving average of $1.89 and a 200-day simple moving average of $1.85. The company has a market capitalization of $5.37 billion, a P/E ratio of 4.04 and a beta of 1.06. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.46.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

A hedge fund recently raised its stake in Comp En De Mn Cemig ADS stock. GAMMA Investing LLC grew its holdings in Comp En De Mn Cemig ADS (NYSE:CIG) by 69.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,227 shares of the utilities provider’s stock after acquiring an additional 6,227 shares during the quarter. GAMMA Investing LLC’s holdings in Comp En De Mn Cemig ADS were worth $30,000 at the end of the most recent reporting period.

About Comp En De Mn Cemig ADS

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.