Companhia Energetica de Minas Gerais (NYSE:CIG) currently has a daily average trading volume of 3.80M but it saw 2678576 shares traded on Thursday. With a market cap of 6.20B USD, stock’s current market price of $2.35 came falling about -1.26 while comparing to the previous closing price of $2.38. In past 52 weeks, the stock remained buoying in the range of price level as high as $2.55 and as low as $1.72. In the recent trading on the day, stock has struck highest price mark of $2.39 while lowest mark touched by it was $2.35.
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Taking a look at 20-day trading activity of Companhia Energetica de Minas Gerais (CIG) gives us an average price of $2.40, while its current price level is -7.66% below from 52-week high level whereas it is 36.41% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $2.32 while that of 200 days or SMA-200 reads an average of $2.19. A closer look into the stock’s movement over the week reveals that its volatility is standing at 1.82% during that period while stretching the period over a month that increases to 2.45%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 46.57 which implies that the stock is in neutral territory.
Companhia Energetica de Minas Gerais (CIG)’s stock is currently under the radar of 8 analysts who are in consensus at a 12-month price target range of between $2.14 and $2.14 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $2.14 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $2.14. Average price target assigned by them is $2.14 which highlights a downside potential of -9.81% for the stock over that period. And to attain the median price target of $2.14 assigned by those analysts, stock has to subtract about -9.81% of value to its current levels.
Data by FactSet Research shows that 8 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 0 analysts suggested the investors to Buy the stock while 8 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Hold for the stock and that issued by Wall Street to investors is Hold.
Over the week, CIG’s stock price is moving -1.26% down while it is -2.08% when we observe its performance for the past one month. Year-to-date it is 17.68% up and over the past year, the stock is showing an upside performance of 2.21%.
The latest quarterly earnings report issued by the company was for quarter ended 6/29/2021, when its quarterly earnings per share (EPS) of $0.22 beat the consensus estimate of $0.01 for the same. The company is expected to be releasing its next quarterly report in 08/03/2023, for which analysts forecasted an EPS of $0 while estimate for next year EPS is $0.
Currently, Companhia Energetica de Minas Gerais’s total number of outstanding shares is 1.46B with 0.00% of that held by the insiders while 15.49% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 17.30% and return on equity (ROE) at 18.80%. It has a price to earnings ratio (P/E ratio) of 6.27 while having a 39.17 of forward P/E ratio. Stock’s beta reads 0.79. Stock has a price to book (P/B) ratio of 0.24 while price to sale or P/S ratio amounts to 0.88. Its return on asset (ROA) is 7.50% on average.
A filing at the U.S. Securities and Exchange Commission revealed that GS Funds – Emerging Markets CORE came shrinking its share ownership by -7.63% in the Companhia Energetica de Minas Gerais (CIG) decreasing its stake to 0.56% with control over -0.68 million shares in the company. In the most recent quarter, Goldman Sachs Emerging Markets Eq came cutting its stake by -10.01% in the company and now holds 6.09 million or 0.42% of the company’s stake having worth of about 14.74 million.
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