Cia Energetica DE Minas Gerais – Cemig ADR (NYSE: CIG): Stock Surge On The Way?

The trading price of Cia Energetica DE Minas Gerais – Cemig ADR (NYSE:CIG) closed higher on Monday, April 01, closing at $2.48, 0.40% higher than its previous close.

The company’s P/E ratio in the trailing 12-month period was 4.73, while its 5Y monthly beta was 0.78. In examining the 52-week price action we see that the stock hit a 52-week high of $2.57 and a 52-week low of $1.90. Over the past month, the stock has gained 6.13% in value.

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Cia Energetica DE Minas Gerais – Cemig ADR, whose market valuation is $3.63 billion at the time of this writing. The dividend yield on the company stock is 0.94%, while its Forward Dividend ratio is 0.02. Investors’ optimism about the company’s current quarter earnings report is understandable.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of Cia Energetica DE Minas Gerais – Cemig ADR No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest CIG has a 50% Buy on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 50% Sell, while an average of long term indicators suggests that the stock is currently 50% Buy.

A quick review shows that CIG’s price is currently 6.28% off the SMA20 and 8.29% off the SMA50. The RSI metric on the 14-day chart is currently showing 66.84, and weekly volatility stands at 2.78%. When measured over the past 30 days, the indicator reaches 2.53%. Cia Energetica DE Minas Gerais – Cemig ADR (NYSE:CIG)’s beta value is currently sitting at 1.23, while the Average True Range indicator is currently displaying 0.06.

To see how Cia Energetica DE Minas Gerais – Cemig ADR stock has been performing in comparison to its peers in the industry, here are the numbers: CIG stock’s performance was 0.40% in the latest trading, and 25.18% in the past year. Cia Energetica DE Minas Gerais – Cemig ADR has a P/E ratio of 4.73.

An evaluation of the daily trading volume of Cia Energetica DE Minas Gerais – Cemig ADR (NYSE:CIG) indicates that the 3-month average is 2.56 million. However, this figure has increased over the past 10 days to an average of 2.95 million.

Currently, records show that 1.46 billion of the company’s shares remain outstanding. The insiders hold 0.00% of outstanding shares, whereas institutions hold 10.71%. The stats also highlight that short interest as of Mar 15, 2024, stood at 1.44 million shares, resulting in a short ratio of 0.49 at that time. From this, we can conclude that short interest is 0.07% of the company’s total outstanding shares. It is noteworthy that short shares in March were down slightly from the previous month’s figure, which was 2.13 million. However, since the stock’s price has seen 8.42% year-to-date, investors’ interest is likely to be reignited due to its potential to move even higher.