Comp En De Mn Cemig ADS (NYSE:CIG) Stock Short Interest Declines 33.9%

Comp En De Mn Cemig ADS (NYSE:CIG) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 2,154,843 shares, a decrease of 33.9% from the September 30th total of 3,257,971 shares. Based on an average daily volume of 5,732,637 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

Institutional Trading of Comp En De Mn Cemig ADS

A number of hedge funds and other institutional investors have recently made changes to their positions in CIG. Renaissance Technologies LLC boosted its position in Comp En De Mn Cemig ADS by 8.2% during the 1st quarter. Renaissance Technologies LLC now owns 7,993,849 shares of the utilities provider’s stock worth $19,105,000 after buying an additional 608,101 shares during the period. Hsbc Holdings PLC grew its holdings in Comp En De Mn Cemig ADS by 15.7% during the 1st quarter. Hsbc Holdings PLC now owns 1,357,797 shares of the utilities provider’s stock worth $3,245,000 after acquiring an additional 183,962 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Comp En De Mn Cemig ADS by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,087,768 shares of the utilities provider’s stock valued at $2,600,000 after acquiring an additional 8,805 shares during the period. Abundance Wealth Counselors increased its position in Comp En De Mn Cemig ADS by 27.0% in the 3rd quarter. Abundance Wealth Counselors now owns 561,437 shares of the utilities provider’s stock valued at $1,179,000 after acquiring an additional 119,505 shares during the period. Finally, Nykredit A S acquired a new position in Comp En De Mn Cemig ADS in the 2nd quarter valued at approximately $844,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CIG shares. Wall Street Zen upgraded shares of Comp En De Mn Cemig ADS to a “hold” rating in a research report on Saturday, October 17th. Weiss Ratings cut shares of Comp En De Mn Cemig ADS from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, October 26th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, the stock has an average rating of “Hold”.

Comp En De Mn Cemig ADS Trading Down 1.9%

NYSE:CIG opened at $1.78 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.93 and a quick ratio of 0.93. The business’s 50-day simple moving average is $2.14 and its 200-day simple moving average is $2.21. Comp En De Mn Cemig ADS has a fifty-two week low of $1.77 and a fifty-two week high of $2.76. The stock has a market capitalization of $5.11 billion, a PE ratio of 9.39 and a beta of 0.86.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais SA, commonly known as Cemig, is a Brazilian electric utility headquartered in Minas Gerais. The company operates across the power sector, with activities that include electricity generation, transmission, distribution and commercialization.

Cemig supplies electricity to customers throughout Minas Gerais and manages a portfolio of power-generation assets, including hydroelectric facilities. Through affiliated businesses, the company has also participated in natural gas distribution and other energy-related activities.