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

CEMIG (NYSE:CIG) saw 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 short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

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

CEMIG Stock Performance

NYSE:CIG traded down $0.01 during midday trading on Monday, reaching $1.88. The stock had a trading volume of 311,608 shares, compared to its average volume of 2,371,130. The stock has a market capitalization of $5.38 billion, a P/E ratio of 3.49 and a beta of 1.31. The firm’s fifty day simple moving average is $1.96 and its 200-day simple moving average is $1.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.96 and a quick ratio of 0.96. CEMIG has a 1-year low of $1.68 and a 1-year high of $2.19.

About CEMIG

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.