CEMIG (NYSE:CIG) Sees Strong Trading Volume – What’s Next?

CEMIG (NYSE:CIG) saw unusually-high trading volume on Monday . Approximately 2,940,447 shares changed hands during mid-day trading, an increase of 44% from the previous session’s volume of 2,044,579 shares.The stock last traded at $1.90 and had previously closed at $1.91.

Wall Street Analysts Forecast Growth

CIG has been the topic of several analyst reports. Hsbc Global Res raised shares of CEMIG to a “hold” rating in a research report on Friday, January 10th. HSBC downgraded shares of CEMIG from a “buy” rating to a “hold” rating in a research report on Friday, January 10th.

CEMIG Price Performance

The stock’s 50-day moving average is $1.86 and its 200 day moving average is $1.93. The stock has a market capitalization of $5.57 billion, a PE ratio of 3.63 and a beta of 1.30. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.35.

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.