Comp En De Mn Cemig ADS (NYSE:CIG) Stock Price Crosses Above 200-Day Moving Average - Time to Sell?

Key Points

• Comp En De Mn Cemig ADS shares have crossed above the 200-day moving average, currently trading at $1.92, indicating potential upward momentum.
• The company reported earnings of $0.08 per share, surpassing analysts' expectations of $0.05, with revenues of $1.83 billion during the last quarter.
• Institutional investors have shown increased interest, with several firms significantly boosting their positions in the company during the second quarter.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $1.87 and traded as high as $1.96. Comp En De Mn Cemig ADS shares last traded at $1.92, with a volume of 2,050,776 shares changing hands.

Comp En De Mn Cemig ADS Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $5.65 billion, a PE ratio of 4.29 and a beta of 1.03. The business has a 50 day simple moving average of $1.91 and a 200 day simple moving average of $1.87.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The utilities provider reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $9.19 billion. Comp En De Mn Cemig ADS had a net margin of 15.68% and a return on equity of 16.35%. Equities research analysts predict that Comp En De Mn Cemig ADS will post 0.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

A number of institutional investors and hedge funds have recently modified their holdings of CIG. Envestnet Asset Management Inc. increased its holdings in Comp En De Mn Cemig ADS by 2,157.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider's stock worth $4,571,000 after buying an additional 2,228,591 shares during the period. American Century Companies Inc. lifted its stake in Comp En De Mn Cemig ADS by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider's stock valued at $7,387,000 after acquiring an additional 850,358 shares during the period. Corient Private Wealth LLC boosted its holdings in shares of Comp En De Mn Cemig ADS by 158.4% in the 2nd quarter. Corient Private Wealth LLC now owns 590,870 shares of the utilities provider's stock valued at $1,158,000 after acquiring an additional 362,171 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Comp En De Mn Cemig ADS by 382.4% in the second quarter. Quadrant Capital Group LLC now owns 453,184 shares of the utilities provider's stock worth $889,000 after acquiring an additional 359,232 shares during the period. Finally, Atria Investments Inc acquired a new stake in shares of Comp En De Mn Cemig ADS in the second quarter worth $394,000.

Comp En De Mn Cemig ADS 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.