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 during the month of August. As of August 14th, there was short interest totaling 5,451,233 shares, an increase of 55.6% from the July 30th total of 3,502,794 shares. Based on an average daily trading volume, of 3,912,163 shares, the short-interest ratio is currently 1.4 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

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

Comp En De Mn Cemig ADS Price Performance

Shares of CIG opened at $2.12 on Thursday. The company’s 50-day moving average is $2.08 and its 200-day moving average is $2.24. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $6.08 billion, a PE ratio of 11.18 and a beta of 0.75. Comp En De Mn Cemig ADS has a fifty-two week low of $1.87 and a fifty-two week high of $2.76.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded 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 analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average 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.