Comp En De Mn Cemig ADS (NYSE:CIG) Short Interest Up 303.9% in July

Key Points

• The short interest for Comp En De Mn Cemig ADS (NYSE:CIG) surged by 303.9% in July, reaching a total of 5.21 million shares by the end of the month.
• CIG's current stock price is $1.95, with a market capitalization of $5.58 billion and a price-to-earnings ratio of 4.20.
• Several institutional investors have increased their holdings in CIG, with American Century Companies Inc. boosting its stake by 29.1% during the second quarter.

Comp En De Mn Cemig ADS (NYSE:CIG - ) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 5,210,000 shares, agrowthof303.9% from the July 15th total of 1,290,000 shares. Approximately0.2% of the company's stock are sold short. Based on an average daily trading volume, of 2,880,000 shares, the days-to-cover ratio is presently 1.8 days. Based on an average daily trading volume, of 2,880,000 shares, the days-to-cover ratio is presently 1.8 days. Approximately0.2% of the company's stock are sold short.

Comp En De Mn Cemig ADS Price Performance

Shares of CIG stock remained flat at $1.95 during trading hours on Friday. The stock had a trading volume of 3,230,894 shares, compared to its average volume of 2,983,467. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 4.20 and a beta of 1.03. Comp En De Mn Cemig ADS has a 1-year low of $1.59 and a 1-year high of $2.19. The stock has a fifty day moving average price of $1.90 and a 200 day moving average price of $1.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.06 and a quick ratio of 1.06.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Several large investors have recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in shares of Comp En De Mn Cemig ADS by 29.1% in the second quarter. American Century Companies Inc. now owns 3,769,024 shares of the utilities provider's stock valued at $7,387,000 after acquiring an additional 850,358 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Comp En De Mn Cemig ADS by 2,157.2% during the second quarter. Envestnet Asset Management Inc. now owns 2,331,902 shares of the utilities provider's stock worth $4,571,000 after purchasing an additional 2,228,591 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Comp En De Mn Cemig ADS by 3.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,251,276 shares of the utilities provider's stock worth $4,413,000 after purchasing an additional 81,679 shares during the last quarter. Hsbc Holdings PLC raised its stake in shares of Comp En De Mn Cemig ADS by 19.5% during the second quarter. Hsbc Holdings PLC now owns 843,882 shares of the utilities provider's stock worth $1,654,000 after purchasing an additional 137,938 shares during the last quarter. Finally, Guggenheim Capital LLC raised its stake in shares of Comp En De Mn Cemig ADS by 24.6% during the second quarter. Guggenheim Capital LLC now owns 608,450 shares of the utilities provider's stock worth $1,193,000 after purchasing an additional 120,147 shares during the last quarter.

Comp En De Mn Cemig ADS 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.

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