Short Interest in CEMIG (NYSE:CIG) Decreases By 22.6%

CEMIG (NYSE:CIG - Get Free Report) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 1,370,000 shares, a decline of 22.6% from the April 30th total of 1,770,000 shares. Currently, 0.0% of the company's shares are short sold. Based on an average daily volume of 3,810,000 shares, the short-interest ratio is presently 0.4 days.

Analyst Ratings Changes

Separately, Bank of America cut shares of CEMIG from a "neutral" rating to an "underperform" rating in a research report on Tuesday, April 1st.

CEMIG Stock Performance

CEMIG stock traded down $0.03 during trading hours on Thursday, hitting $1.82. 74,517 shares of the stock traded hands, compared to its average volume of 2,413,853. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.04 and a quick ratio of 1.04. The firm's 50 day moving average price is $1.80 and its 200-day moving average price is $1.85. The stock has a market capitalization of $5.19 billion, a price-to-earnings ratio of 3.41 and a beta of 1.07. CEMIG has a 1 year low of $1.59 and a 1 year high of $2.19.

CEMIG Cuts Dividend

The business also recently announced a dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were paid a $0.033 dividend. The ex-dividend date of this dividend was Monday, March 31st. CEMIG's payout ratio is 43.48%.

CEMIG Company Profile

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.