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)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analysts Set New Price Targets

Separately, Weiss Ratings raised Comp En De Mn Cemig ADS from a “hold (c+)” rating to a “buy (b)” rating in a research note on Tuesday, March 24th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, Comp En De Mn Cemig ADS presently has a consensus 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 firm has a market cap of $6.91 billion, a P/E ratio of 18.58 and a beta of 0.82. The company’s 50 day moving average is $2.44 and its 200 day moving average is $2.22.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Several hedge funds have recently modified their holdings of the company. DGS Capital Management LLC increased its holdings in Comp En De Mn Cemig ADS by 8.9% in the 1st quarter. DGS Capital Management LLC now owns 51,523 shares of the utilities provider’s stock worth $123,000 after purchasing an additional 4,196 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Comp En De Mn Cemig ADS by 8.1% in the first quarter. Sequoia Financial Advisors LLC now owns 61,280 shares of the utilities provider’s stock valued at $146,000 after purchasing an additional 4,612 shares during the last quarter. PFG Advisors boosted its stake in shares of Comp En De Mn Cemig ADS by 34.2% during the third quarter. PFG Advisors now owns 18,392 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 4,685 shares in the last quarter. Corient Private Wealth LLC boosted its stake in shares of Comp En De Mn Cemig ADS by 0.8% during the fourth quarter. Corient Private Wealth LLC now owns 594,303 shares of the utilities provider’s stock valued at $1,190,000 after purchasing an additional 4,800 shares in the last quarter. Finally, Inspire Advisors LLC grew its holdings in shares of Comp En De Mn Cemig ADS by 55.8% during the fourth quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 5,631 shares during the last quarter.

Comp En De Mn Cemig ADS Company Profile

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.