Comp En De Mn Cemig ADS (NYSE:CIG) Stock Passes Above 200-Day Moving Average - Should You Sell?

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) shares passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.91 and traded as high as $2.00. Comp En De Mn Cemig ADS shares last traded at $2.00, with a volume of 2,100,297 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "buy (b-)" rating on shares of Comp En De Mn Cemig ADS in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold".

Comp En De Mn Cemig ADS Trading Up 0.8%

The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 4.34 and a beta of 1.11. The firm has a 50-day moving average price of $2.01 and a 200-day moving average price of $1.91. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.45.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) last issued its earnings results on Thursday, August 14th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.03. The business had revenue of $1.83 billion for the quarter, compared to analysts' expectations of $9.19 billion. Comp En De Mn Cemig ADS had a return on equity of 16.30% and a net margin of 15.68%. As a group, sell-side analysts predict that Comp En De Mn Cemig ADS will post 0.44 EPS for the current year.

Institutional Trading of Comp En De Mn Cemig ADS

Several hedge funds and other institutional investors have recently modified their holdings of CIG. GAMMA Investing LLC boosted its position in shares of Comp En De Mn Cemig ADS by 69.2% in the second quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider's stock worth $30,000 after buying an additional 6,227 shares during the period. Invested Advisors acquired a new stake in shares of Comp En De Mn Cemig ADS in the third quarter worth $40,000. MAI Capital Management acquired a new stake in shares of Comp En De Mn Cemig ADS in the second quarter worth $41,000. EverSource Wealth Advisors LLC boosted its position in shares of Comp En De Mn Cemig ADS by 224.2% in the second quarter. EverSource Wealth Advisors LLC now owns 23,648 shares of the utilities provider's stock worth $46,000 after buying an additional 16,354 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of Comp En De Mn Cemig ADS in the second quarter worth $62,000.

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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