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

Key Points

• Comp En De Mn Cemig ADS stock price has surpassed its 200-day moving average at $1.86, reaching a high of $1.99 during trading, although it closed slightly down at $1.98.
• Institutional investors have significantly increased their holdings in Comp En De Mn Cemig ADS, with Envestnet Asset Management boosting its position by an astonishing 2,157.2%.
• The company has a market capitalization of $5.65 billion, a PE ratio of 4.25, and a low debt-to-equity ratio of 0.46, indicating financial stability.

Comp En De Mn Cemig ADS (NYSE:CIG - )'s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $1.86 and traded as high as $1.99. Comp En De Mn Cemig ADS shares last traded at $1.98, with a volume of 2,846,829 shares.

Comp En De Mn Cemig ADS Stock Down 0.8%

The company has a market capitalization of $5.65 billion, a PE ratio of 4.25 and a beta of 1.03. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.46. The stock's fifty day moving average is $1.90 and its two-hundred day moving average is $1.86.

Hedge Funds Weigh In On Comp En De Mn Cemig ADS

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CIG. GAMMA Investing LLC boosted its position in Comp En De Mn Cemig ADS by 69.2% during the second quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider's stock worth $30,000 after purchasing an additional 6,227 shares during the period. Precision Wealth Strategies LLC bought a new position in Comp En De Mn Cemig ADS during the second quarter worth about $154,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Comp En De Mn Cemig ADS by 7.7% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 103,815 shares of the utilities provider's stock worth $203,000 after purchasing an additional 7,447 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in Comp En De Mn Cemig ADS by 188.8% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 170,383 shares of the utilities provider's stock worth $334,000 after purchasing an additional 111,394 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Comp En De Mn Cemig ADS by 2,157.2% during the second quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider's stock worth $4,571,000 after purchasing an additional 2,228,591 shares during the 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.

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