Comp En De Mn Cemig ADS (NYSE:CIG) Reaches New 1-Year Low – What’s Next?

Shares of Comp En De Mn Cemig ADS (NYSE:CIG) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $1.88 and last traded at $1.8897, with a volume of 5765472 shares trading hands. The stock had previously closed at $1.93.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered shares of Comp En De Mn Cemig ADS from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Comp En De Mn Cemig ADS Stock Down 1.6%

The company’s fifty day simple moving average is $2.10 and its 200 day simple moving average is $2.25. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $5.44 billion, a P/E ratio of 10.00 and a beta of 0.78.

Institutional Trading of Comp En De Mn Cemig ADS

Several institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its position in Comp En De Mn Cemig ADS by 4.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 348,762 shares of the utilities provider’s stock valued at $684,000 after acquiring an additional 14,430 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Comp En De Mn Cemig ADS by 3.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,251,276 shares of the utilities provider’s stock valued at $4,413,000 after buying an additional 81,679 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Comp En De Mn Cemig ADS by 224.2% in the 2nd 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. Marshall Wace LLP purchased a new stake in shares of Comp En De Mn Cemig ADS in the 2nd quarter worth about $62,000. Finally, Qube Research & Technologies Ltd purchased a new position in Comp En De Mn Cemig ADS during the 2nd quarter valued at about $130,000.

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.