Comp En De Mn Cemig ADS (NYSE:CIG) Short Interest Up 55.6% in August

Comp En De Mn Cemig ADS (NYSE:CIG) was the target of a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 5,451,233 shares, a growth of 55.6% from the July 30th total of 3,502,794 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average trading volume of 3,912,163 shares, the short-interest ratio is presently 1.4 days.

Comp En De Mn Cemig ADS Price Performance

NYSE CIG opened at $2.04 on Wednesday. The business’s fifty day moving average price is $2.08 and its 200-day moving average price is $2.24. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 10.76 and a beta of 0.75. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Comp En De Mn Cemig ADS has a 1-year low of $1.87 and a 1-year high of $2.76.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Greenspring Advisors LLC bought a new stake in shares of Comp En De Mn Cemig ADS during the 4th quarter valued at about $30,000. SmartHarvest Portfolios LLC purchased a new stake in shares of Comp En De Mn Cemig ADS during the 4th quarter valued at about $30,000. Inspire Advisors LLC lifted its stake in shares of Comp En De Mn Cemig ADS by 55.8% in the 4th quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 5,631 shares during the period. EP Wealth Advisors LLC bought a new position in shares of Comp En De Mn Cemig ADS in the 4th quarter worth approximately $33,000. Finally, MW Advisory LLC purchased a new position in shares of Comp En De Mn Cemig ADS in the second quarter worth approximately $34,000.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Comp En De Mn Cemig ADS from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais SA (Cemig ADS) is a leading Brazilian energy company primarily engaged in the generation, transmission, distribution and commercialization of electric power. Headquartered in Belo Horizonte, the company operates as a vertically integrated utility, serving residential, commercial and industrial customers across its concession areas. In addition to its core electricity business, Cemig maintains interests in natural gas distribution and distinct energy-related ventures, including renewable sources and infrastructure projects.

In its generation segment, Cemig manages a diversified portfolio that includes hydroelectric, photovoltaic and wind power plants.