CEMIG (NYSE:CIG) Sees Significant Decrease in Short Interest

CEMIG (NYSE:CIGGet Rating) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totalling 6,640,000 shares, a decline of 27.7% from the April 30th total of 9,180,000 shares. Based on an average trading volume of 7,970,000 shares, the days-to-cover ratio is currently 0.8 days.

Shares of CEMIG stock opened at $2.46 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.49. CEMIG has a 52-week low of $1.61 and a 52-week high of $2.61. The company has a 50 day moving average of $2.93 and a 200 day moving average of $2.62. The company has a market capitalization of $6.04 billion, a P/E ratio of 7.11 and a beta of 0.51.

An institutional investor recently raised its position in CEMIG stock. US Bancorp DE grew its stake in shares of CEMIG (NYSE:CIGGet Rating) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,572 shares of the utilities provider’s stock after purchasing an additional 4,287 shares during the quarter. US Bancorp DE’s holdings in CEMIG were worth $130,000 as of its most recent filing with the Securities and Exchange Commission. 2.46% of the stock is owned by institutional investors and hedge funds.

CEMIG Company Profile (Get Rating)

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.

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