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

Key Points

• Comp En De Mn Cemig ADS (NYSE:CIG) moved above its 200-day moving average, trading as high as $2.45 and last changing hands around $2.3960. That technical move may signal improving momentum for the stock.
• Weiss Ratings upgraded Cemig ADS from hold to buy, and MarketBeat data shows the stock now has an overall average Buy rating from analysts.
• The company’s fundamentals include a market cap of $6.86 billion, a P/E ratio of 18.43, and relatively stable balance-sheet metrics, with a debt-to-equity ratio of 0.59 and both quick and current ratios at 1.00.

Shares of Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.22 and traded as high as $2.45. Comp En De Mn Cemig ADS shares last traded at $2.3960, with a volume of 6,582,040 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Comp En De Mn Cemig ADS from a "hold (c+)" rating to a "buy (b)" rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy".

Comp En De Mn Cemig ADS Stock Performance

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50 day moving average price of $2.44 and a 200 day moving average price of $2.22. The company has a market capitalization of $6.86 billion, a price-to-earnings ratio of 18.43 and a beta of 0.82.

Institutional Trading of Comp En De Mn Cemig ADS

Several large investors have recently made changes to their positions in the company. State Street Corp grew its stake in shares of Comp En De Mn Cemig ADS by 4.2% in the 4th quarter. State Street Corp now owns 14,278,481 shares of the utilities provider's stock valued at $28,557,000 after buying an additional 579,856 shares during the period. TSP Capital Management Group LLC grew its stake in shares of Comp En De Mn Cemig ADS by 0.8% in the 1st quarter. TSP Capital Management Group LLC now owns 9,123,551 shares of the utilities provider's stock valued at $21,805,000 after buying an additional 70,659 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of Comp En De Mn Cemig ADS by 1.6% in the 4th quarter. Crossmark Global Holdings Inc. now owns 4,061,011 shares of the utilities provider's stock valued at $8,122,000 after buying an additional 63,442 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Comp En De Mn Cemig ADS by 1.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 2,368,854 shares of the utilities provider's stock valued at $4,998,000 after buying an additional 36,952 shares during the period. Finally, United Capital Financial Advisors LLC grew its stake in shares of Comp En De Mn Cemig ADS by 1.2% in the 3rd quarter. United Capital Financial Advisors LLC now owns 2,271,963 shares of the utilities provider's stock valued at $4,794,000 after buying an additional 25,907 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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