Goldman lifts Companhia Energetica de Minas Gerais [CIG] price estimate. Who else is bullish?

Companhia Energetica de Minas Gerais [NYSE: CIG] price surged by 0.99 percent to reach at $0.02.


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A sum of 3778039 shares traded at recent session while its average daily volume was at 8.62M shares. Companhia Energetica de Minas Gerais shares reached a high of $2.09 and dropped to a low of $2.0246 until finishing in the latest session at $2.05.

The one-year CIG stock forecast points to a potential upside of 30.27. The average equity rating for CIG stock is currently 3.00, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $2.94 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 3.00. 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 0.10, with the Price to Sales ratio for CIG stock in the period of the last 12 months amounting to 0.84. The Price to Book ratio for the last quarter was 1.15, with the Price to Cash per share for the same quarter was set at 0.33. Price to Free Cash Flow for CIG in the course of the last twelve months was 6.91.

CIG Stock Performance Analysis:

Companhia Energetica de Minas Gerais [CIG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.63. With this latest performance, CIG shares gained by 1.99% in over the last four-week period, additionally sinking by -16.61% over the last 6 months – not to mention a rise of 17.43% 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 48.34, with the RSI for the last a single of trading hit 49.65, and the three-weeks RSI is set at 47.74 for Companhia Energetica de Minas Gerais [CIG]. The present Moving Average for the last 50 days of trading for this stock 2.12, while it was recorded at 2.03 for the last single week of trading, and 2.20 for the last 200 days.

Insight into Companhia Energetica de Minas Gerais Fundamentals:

Companhia Energetica de Minas Gerais’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.30.

CIG Stock EPS

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%.

Companhia Energetica de Minas Gerais [CIG] Insider Position Details

There are presently around $491 million, or 21.90% of CIG stock, in the hands of institutional investors. The top three institutional holders of CIG stocks are: BLACKROCK INC. with ownership of 89,246,851, which is approximately 7.63% of the company’s market cap and around 1.00% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 44,327,647 shares of the stock with an approximate value of $90.87 million in CIG stocks shares; and POLUNIN CAPITAL PARTNERS LTD, currently with $27.66 million in CIG stock with ownership of nearly -5.876% of the company’s market capitalization.

72 institutional holders increased their position in Companhia Energetica de Minas Gerais [NYSE:CIG] by around 14,173,075 shares. Additionally, 66 investors decreased positions by around 9,199,996 shares, while 28 investors held positions by with 215,987,531 shares. The mentioned changes placed institutional holdings at 239,360,602 shares, according to the latest SEC report filing. CIG stock had 18 new institutional investments in for a total of 3,283,909 shares, while 16 institutional investors sold positions of 2,808,721 shares during the same period.

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