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

Comp En De Mn Cemig ADS (NYSE:CIG)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.93 and traded as high as $2.10. Comp En De Mn Cemig ADS shares last traded at $2.0950, with a volume of 1,917,207 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Comp En De Mn Cemig ADS in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Price Performance

The firm has a market capitalization of $6.00 billion, a P/E ratio of 9.52 and a beta of 1.11. The stock’s 50 day simple moving average is $2.03 and its 200 day simple moving average is $1.93. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.00 and a current ratio of 1.00.

Comp En De Mn Cemig ADS (NYSE:CIG) last announced its quarterly earnings data on Thursday, August 14th. The utilities provider reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.03. Comp En De Mn Cemig ADS had a return on equity of 16.30% and a net margin of 15.68%.The company had revenue of $1.83 billion for the quarter, compared to analysts’ expectations of $9.19 billion. As a group, analysts expect that Comp En De Mn Cemig ADS will post 0.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its holdings in Comp En De Mn Cemig ADS by 69.2% during the 2nd quarter. GAMMA Investing LLC now owns 15,227 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 6,227 shares in the last quarter. Invested Advisors bought a new position in shares of Comp En De Mn Cemig ADS during the third quarter valued at approximately $40,000. MAI Capital Management bought a new position in shares of Comp En De Mn Cemig ADS during the second quarter valued at approximately $41,000. EverSource Wealth Advisors LLC boosted its stake in shares of Comp En De Mn Cemig ADS by 224.2% during the second quarter. EverSource Wealth Advisors LLC now owns 23,648 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 16,354 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Comp En De Mn Cemig ADS during the second quarter valued at approximately $62,000.

About Comp En De Mn Cemig ADS

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.