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

CEMIG (NYSE:CIG) was the recipient of a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 1,500,000 shares, a drop of 59.1% from the November 30th total of 3,670,000 shares. Based on an average daily trading volume, of 2,330,000 shares, the days-to-cover ratio is presently 0.6 days.

Wall Street Analyst Weigh In

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

CEMIG Price Performance

Shares of CIG stock traded up $0.01 during trading hours on Friday, reaching $1.80. The company’s stock had a trading volume of 485,573 shares, compared to its average volume of 2,378,020. CEMIG has a fifty-two week low of $1.68 and a fifty-two week high of $2.19. The firm’s 50 day simple moving average is $1.93 and its 200-day simple moving average is $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. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of 3.35 and a beta of 1.31.

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.