CEMIG (NYSE:CIG) Shares Gap Down – Here’s What Happened

Shares of CEMIG (NYSE:CIG) gapped down before the market opened on Friday . The stock had previously closed at $2.00, but opened at $1.89. CEMIG shares last traded at $1.94, with a volume of 2,246,327 shares.

Wall Street Analyst Weigh In

Separately, Scotiabank began coverage on CEMIG in a research report on Thursday, October 31st. They issued a “sector perform” rating on the stock.

CEMIG Stock Down 2.0 %

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $5.61 billion, a price-to-earnings ratio of 4.67 and a beta of 1.30. The firm’s fifty day moving average is $1.99 and its 200-day moving average is $1.97.

About CEMIG

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.