CEMIG (NYSE:CIG) Short Interest Update

CEMIG (NYSE:CIG) was the recipient of a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 3,670,000 shares, a decrease of 19.7% from the November 15th total of 4,570,000 shares. Based on an average daily volume of 2,040,000 shares, the days-to-cover ratio is presently 1.8 days.

CEMIG Stock Performance

CEMIG stock traded down $0.01 during trading hours on Friday, hitting $1.89. The stock had a trading volume of 3,024,147 shares, compared to its average volume of 2,380,739. The company has a 50-day moving average of $1.96 and a two-hundred day moving average of $1.96. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.28. 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 $5.41 billion, a PE ratio of 3.50 and a beta of 1.31.

Analysts Set New Price Targets

Separately, Scotiabank assumed coverage on shares of 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.