Comp En De Mn Cemig ADS (NYSE:CIG) Short Interest Update

Comp En De Mn Cemig ADS (NYSE:CIG) saw a significant increase in short interest in July. As of July 31st, there was short interest totaling 3,502,794 shares, an increase of 48.0% from the July 15th total of 2,366,935 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 5,037,068 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of Comp En De Mn Cemig ADS

Several hedge funds have recently bought and sold shares of CIG. DGS Capital Management LLC lifted its stake in Comp En De Mn Cemig ADS by 8.9% in the first quarter. DGS Capital Management LLC now owns 51,523 shares of the utilities provider’s stock valued at $123,000 after buying an additional 4,196 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Comp En De Mn Cemig ADS by 8.1% during the 1st quarter. Sequoia Financial Advisors LLC now owns 61,280 shares of the utilities provider’s stock worth $146,000 after purchasing an additional 4,612 shares in the last quarter. PFG Advisors raised its stake in shares of Comp En De Mn Cemig ADS by 34.2% in the 3rd quarter. PFG Advisors now owns 18,392 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 4,685 shares during the period. Corient Private Wealth LLC raised its stake in shares of Comp En De Mn Cemig ADS by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 594,303 shares of the utilities provider’s stock valued at $1,190,000 after purchasing an additional 4,800 shares during the period. Finally, Inspire Advisors LLC lifted its holdings in shares of Comp En De Mn Cemig ADS by 55.8% in the fourth quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 5,631 shares in the last quarter.

Analysts Set New Price Targets

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

Comp En De Mn Cemig ADS Stock Down 0.3%

Shares of NYSE CIG traded down $0.01 during mid-day trading on Tuesday, reaching $1.92. 4,675,338 shares of the company’s stock were exchanged, compared to its average volume of 6,087,383. Comp En De Mn Cemig ADS has a twelve month low of $1.88 and a twelve month high of $2.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $5.48 billion, a price-to-earnings ratio of 10.08 and a beta of 0.78. The business has a fifty day simple moving average of $2.10 and a 200 day simple moving average of $2.25.

About Comp En De Mn Cemig ADS

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.