CEMIG (NYSE:CIG) Short Interest Update

CEMIG (NYSE:CIG) saw a significant decrease in short interest during the month of December. As of December 15th, there was short interest totalling 1,500,000 shares, a decrease 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 presently 0.6 days.

CEMIG Trading Up 0.6 %

Shares of NYSE:CIG opened at $1.80 on Friday. The company’s 50-day moving average price is $1.93 and its 200 day moving average price is $1.96. CEMIG has a fifty-two week low of $1.68 and a fifty-two week high of $2.19. The company has a market cap of $5.15 billion, a PE ratio of 3.36 and a beta of 1.31. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28.

Analysts Set New Price Targets

Separately, Scotiabank initiated coverage on CEMIG in a research note on Thursday, October 31st. They issued a “sector perform” rating on the stock.

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.