Companhia Energetica de Minas Gerais S.A. (NYSE:CIG) saw unusually-high trading volume on Thursday . Approximately 5,143,222 shares were traded during trading, a decline of 2% from the previous session’s volume of 5,233,766 shares.The stock last traded at $2.66 and had previously closed at $2.45.

Separately, Zacks Investment Research downgraded shares of Companhia Energetica de Minas Gerais from a “hold” rating to a “sell” rating in a research note on Friday, June 3rd.

The company has a 50-day moving average price of $1.90 and a 200 day moving average price of $1.75. The stock has a market cap of $3.20 billion and a P/E ratio of 10.45.

Several institutional investors recently bought and sold shares of the company. Schroder Investment Management Group boosted its position in Companhia Energetica de Minas Gerais by 103.6% in the fourth quarter. Schroder Investment Management Group now owns 11,383,104 shares of the company’s stock worth $17,074,000 after buying an additional 5,791,800 shares during the period. TSP Capital Management Group LLC boosted its position in Companhia Energetica de Minas Gerais by 32.5% in the fourth quarter. TSP Capital Management Group LLC now owns 1,786,886 shares of the company’s stock worth $2,680,000 after buying an additional 438,376 shares during the period. Finally, Oxford Asset Management boosted its position in Companhia Energetica de Minas Gerais by 45.2% in the fourth quarter. Oxford Asset Management now owns 979,267 shares of the company’s stock worth $1,498,000 after buying an additional 304,859 shares during the period.

Companhia Energetica de Minas Gerais CEMIG is a Brazil-based holding company mainly engaged in the generation, transmission and distribution of electricity. The Company operates through the segments: Generation, Transmission, Distribution, Telecom, Gas and Other. The Company generates electricity at approximately 78 hydroelectric plants, three thermoelectric plants and 23 wind farms.

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