Today, TheStreet Upgraded Companhia Energetica de Minas Gerais S.A. (CIG) to Hold

Today, TheStreet Upgraded Companhia Energetica de Minas Gerais S.A. (CIG) to Hold

Companhia Energetica de Minas Gerais S.A. (NYSE:CIG) was upgraded by equities research analysts at TheStreet from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Separately, Zacks Investment Research cut shares of Companhia Energetica de Minas Gerais from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th.

Companhia Energetica de Minas Gerais (NYSE:CIG) traded down 4.58% during trading on Wednesday, hitting $2.29. 2,004,063 shares of the stock were exchanged. Companhia Energetica de Minas Gerais has a 52 week low of $1.02 and a 52 week high of $3.08. The stock has a 50 day moving average of $2.67 and a 200-day moving average of $2.42. The stock has a market cap of $2.88 billion, a P/E ratio of 10.50 and a beta of 1.98.

Institutional investors have recently modified their holdings of the company. Boothbay Fund Management LLC acquired a new position in shares of Companhia Energetica de Minas Gerais during the first quarter worth approximately $115,000. Nordea Investment Management AB purchased a new position in Companhia Energetica de Minas Gerais during the second quarter worth about $158,000. Capstone Asset Management Co. boosted its position in Companhia Energetica de Minas Gerais by 4.1% in the third quarter. Capstone Asset Management Co. now owns 74,417 shares of the company’s stock worth $193,000 after buying an additional 2,950 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in Companhia Energetica de Minas Gerais during the second quarter worth about $224,000. Finally, Profund Advisors LLC purchased a new position in Companhia Energetica de Minas Gerais during the third quarter worth about $229,000. Institutional investors own 3.70% of the company’s stock.

Companhia Energetica de Minas Gerais Company Profile

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