CEMIG (NYSE:CIG) Short Interest Update

CEMIG (NYSE:CIG) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 1,500,000 shares, a decline of 59.1% from the November 30th total of 3,670,000 shares. Based on an average daily volume of 2,330,000 shares, the days-to-cover ratio is currently 0.6 days.

CEMIG Price Performance

CIG stock opened at $1.80 on Friday. The firm has a market cap of $5.15 billion, a P/E ratio of 3.36 and a beta of 1.31. The stock has a 50-day simple moving average of $1.93 and a 200-day simple moving average of $1.96. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.96 and a current ratio of 0.96. CEMIG has a 1 year low of $1.68 and a 1 year high of $2.19.

Wall Street Analyst Weigh In

Separately, Scotiabank started coverage on CEMIG in a research report on Thursday, October 31st. They set a “sector perform” rating for the company.

CEMIG Company Profile

Companhia Energética de Minas Gerais, through its subsidiaries, engages in the generation, transmission, distribution, and sale of electricity in Brazil. The company generates electricity through renewable energy sources, such as water, wind, sun, and biomass; or non-renewable sources, including fossil and nuclear fuels.