CEMIG (NYSE:CIG) Sees Strong Trading Volume – Time to Buy?

CEMIG (NYSE:CIG) saw strong trading volume on Monday . 2,940,447 shares were traded during trading, an increase of 44% from the previous session’s volume of 2,044,579 shares.The stock last traded at $1.90 and had previously closed at $1.91.

Wall Street Analyst Weigh In

Several research firms have recently commented on CIG. HSBC cut 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 note on Friday, January 10th.

CEMIG Price Performance

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. The company’s 50 day moving average is $1.86 and its 200 day moving average is $1.93. The stock has a market cap of $5.48 billion, a price-to-earnings ratio of 3.56 and a beta of 1.30.

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.