CEMIG (NYSE:CIG) Short Interest Down 59.1% in December

CEMIG (NYSE:CIG) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totalling 1,500,000 shares, a decline 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 short-interest ratio is presently 0.6 days.

Wall Street Analyst Weigh In

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

CEMIG Stock Up 0.6 %

CEMIG stock traded up $0.01 during trading hours on Friday, hitting $1.80. 689,729 shares of the stock traded hands, compared to its average volume of 2,378,944. CEMIG has a one year low of $1.68 and a one year 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 firm’s 50-day moving average price is $1.93 and its two-hundred day moving average price is $1.96. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.28.

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.