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

CEMIG (NYSE:CIG) was the target of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 2,830,000 shares, a growth of 88.7% from the December 31st total of 1,500,000 shares. Based on an average daily trading volume, of 2,200,000 shares, the days-to-cover ratio is currently 1.3 days.

Analyst Ratings Changes

Several brokerages have commented on CIG. Hsbc Global Res raised CEMIG to a “hold” rating in a research report on Friday, January 10th. Scotiabank started coverage on CEMIG in a research report on Thursday, October 31st. They issued a “sector perform” rating for the company. Finally, HSBC lowered CEMIG from a “buy” rating to a “hold” rating in a research report on Friday, January 10th.

CEMIG Stock Down 1.4 %

Shares of CIG traded down $0.03 during trading hours on Wednesday, hitting $1.82. The company had a trading volume of 1,836,818 shares, compared to its average volume of 1,914,187. The firm has a fifty day moving average price of $1.84 and a 200-day moving average price of $1.94. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 3.39 and a beta of 1.31. CEMIG has a 52-week low of $1.68 and a 52-week 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.