CEMIG (NYSE:CIG – Get Rating) saw a large decline in short interest during the month of December. As of December 15th, there was short interest totalling 3,340,000 shares, a decline of 13.5% from the November 30th total of 3,860,000 shares. Based on an average trading volume of 9,000,000 shares, the short-interest ratio is currently 0.4 days.
CEMIG Price Performance
Shares of NYSE CIG opened at $2.03 on Monday. CEMIG has a twelve month low of $1.65 and a twelve month high of $2.62. The firm has a market cap of $4.47 billion, a P/E ratio of 9.29 and a beta of 0.68. The company has a 50 day moving average of $2.08 and a 200 day moving average of $2.16. The company has a quick ratio of 1.24, a current ratio of 1.25 and a debt-to-equity ratio of 0.51.
Get CEMIG alerts:Wall Street Analysts Forecast Growth
Separately, TheStreet upgraded shares of CEMIG from a "c+" rating to a "b" rating in a report on Monday, December 12th.
Institutional Investors Weigh In On CEMIG
Large investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp grew its position in CEMIG by 12.9% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 45,891 shares of the utilities provider's stock worth $93,000 after purchasing an additional 5,229 shares during the period. US Bancorp DE grew its position in CEMIG by 48.5% in the 2nd quarter. US Bancorp DE now owns 72,962 shares of the utilities provider's stock worth $148,000 after purchasing an additional 23,845 shares during the period. SPX Gestao de Recursos Ltda bought a new stake in CEMIG in the 3rd quarter worth approximately $326,000. Finally, Marshall Wace LLP bought a new stake in CEMIG in the 3rd quarter worth approximately $4,290,000. Institutional investors own 3.02% of the company's stock.About CEMIG
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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.
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