Companhia Energetica de Minas Gerais [NYSE: CIG] loss -3.33% or -0.08 points to close at $2.32 with a heavy trading volume of 4853283 shares.
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It opened the trading session at $2.32, the shares rose to $2.345 and dropped to $2.30, the range by which the price of stock traded the whole day. The daily chart for CIG points out that the company has recorded 32.19% gains over the past six months. However, it is still -50.65% lower than its most recent low trading price.
If we look at the average trading volume of 7.68M shares, CIG reached to a volume of 4853283 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Companhia Energetica de Minas Gerais [CIG]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CIG shares is $2.17 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CIG stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Goldman have made an estimate for Companhia Energetica de Minas Gerais shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 14, 2019. The new note on the price target was released on April 10, 2019, representing the official price target for Companhia Energetica de Minas Gerais stock.
The Average True Range (ATR) for Companhia Energetica de Minas Gerais is set at 0.08, with the Price to Sales ratio for CIG stock in the period of the last 12 months amounting to 0.80. The Price to Book ratio for the last quarter was 0.97, with the Price to Cash per share for the same quarter was set at 0.22. Price to Free Cash Flow for CIG in the course of the last twelve months was 12.93.
Trading performance analysis for CIG stock
Companhia Energetica de Minas Gerais [CIG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.07. With this latest performance, CIG shares gained by 19.21% in over the last four-week period, additionally plugging by 32.19% over the last 6 months – not to mention a rise of 16.52% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CIG stock in for the last two-week period is set at 49.25, with the RSI for the last a single of trading hit 44.54, and the three-weeks RSI is set at 50.85 for Companhia Energetica de Minas Gerais [CIG]. The present Moving Average for the last 50 days of trading for this stock 2.34, while it was recorded at 2.41 for the last single week of trading, and 2.02 for the last 200 days.
Companhia Energetica de Minas Gerais [CIG]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Companhia Energetica de Minas Gerais [CIG] shares currently have an operating margin of +17.42 and a Gross Margin at +19.68. Companhia Energetica de Minas Gerais’s Net Margin is presently recorded at +11.15.
Return on Equity for this stock inclined to 20.32, with Return on Assets sitting at 7.07.
Companhia Energetica de Minas Gerais’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.20.
Companhia Energetica de Minas Gerais [CIG]: An earnings per share (EPS) analysis
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CIG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Companhia Energetica de Minas Gerais go to 0.00%.
An analysis of insider ownership at Companhia Energetica de Minas Gerais [CIG]
There are presently around $542 million, or 19.90% of CIG stock, in the hands of institutional investors. The top three institutional holders of CIG stocks are: BLACKROCK INC. with ownership of 73,182,079, which is approximately 5.481% of the company’s market cap and around 1.00% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 44,184,486 shares of the stock with an approximate value of $106.04 million in CIG stocks shares; and POLUNIN CAPITAL PARTNERS LTD, currently with $37.04 million in CIG stock with ownership of nearly -1.342% of the company’s market capitalization.
Positions in Companhia Energetica de Minas Gerais stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 72 institutional holders increased their position in Companhia Energetica de Minas Gerais [NYSE:CIG] by around 26,299,045 shares. Additionally, 54 investors decreased positions by around 23,493,107 shares, while 32 investors held positions by with 175,935,826 shares. The mentioned changes placed institutional holdings at 225,727,978 shares, according to the latest SEC report filing. CIG stock had 28 new institutional investments in for a total of 11,603,160 shares, while 19 institutional investors sold positions of 2,381,844 shares during the same period.