Comp En De Mn Cemig ADS (NYSE:CIG) Reaches New 12-Month Low - Time to Sell?

Key Points

• Cemig ADS shares fell to a new 52-week low, trading as low as $1.88 before last changing hands near $1.89, below the previous close of $1.93.
• Analyst sentiment is cautious: Weiss Ratings downgraded the stock from “buy (b-)” to “hold (c+),” while the broader MarketBeat consensus is also “Hold.”
• The stock trades below both its 50-day ($2.10) and 200-day ($2.25) moving averages, though several institutional investors—including Renaissance Technologies—recently increased their positions.

Shares of Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.88 and last traded at $1.8897, with a volume of 5765472 shares traded. The stock had previously closed at $1.93.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Comp En De Mn Cemig ADS from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Comp En De Mn Cemig ADS has an average rating of "Hold".

Comp En De Mn Cemig ADS Price Performance

The firm has a 50-day moving average price of $2.10 and a 200 day moving average price of $2.25. The stock has a market capitalization of $5.44 billion, a P/E ratio of 10.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Institutional Trading of Comp En De Mn Cemig ADS

Institutional investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new stake in Comp En De Mn Cemig ADS during the 2nd quarter valued at about $797,000. EverSource Wealth Advisors LLC lifted its position in Comp En De Mn Cemig ADS by 25.4% in the first quarter. EverSource Wealth Advisors LLC now owns 32,511 shares of the utilities provider's stock valued at $78,000 after purchasing an additional 6,588 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Comp En De Mn Cemig ADS by 8.2% during the first quarter. Renaissance Technologies LLC now owns 7,993,849 shares of the utilities provider's stock valued at $19,105,000 after purchasing an additional 608,101 shares during the period. Compound Planning Inc. grew its holdings in shares of Comp En De Mn Cemig ADS by 25.3% in the first quarter. Compound Planning Inc. now owns 72,565 shares of the utilities provider's stock worth $173,000 after purchasing an additional 14,646 shares during the last quarter. Finally, Sei Investments Co. increased its stake in shares of Comp En De Mn Cemig ADS by 17.6% in the first quarter. Sei Investments Co. now owns 243,535 shares of the utilities provider's stock worth $582,000 after buying an additional 36,514 shares during the period.

About Comp En De Mn Cemig ADS

Companhia Energética de Minas Gerais SA (Cemig ADS) is a leading Brazilian energy company primarily engaged in the generation, transmission, distribution and commercialization of electric power. Headquartered in Belo Horizonte, the company operates as a vertically integrated utility, serving residential, commercial and industrial customers across its concession areas. In addition to its core electricity business, Cemig maintains interests in natural gas distribution and distinct energy-related ventures, including renewable sources and infrastructure projects.

In its generation segment, Cemig manages a diversified portfolio that includes hydroelectric, photovoltaic and wind power plants.

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