Comp En De Mn Cemig ADS (NYSE:CIG) Stock Short Interest Report for October

Key Points

• Short interest fell 33.9% to 2.15 million shares as of October 15, representing just 0.1% of outstanding shares and a days-to-cover ratio of 0.4.
• Analyst sentiment remained neutral: Weiss Ratings downgraded the stock to “hold,” while Wall Street Zen raised it to “hold,” resulting in a consensus “Hold” rating.
• CIG shares opened at $1.82, near their 12-month low of $1.81, with a $5.22 billion market capitalization and a price-to-earnings ratio of 9.61.

Comp En De Mn Cemig ADS (NYSE:CIG - Get Free Report) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 2,154,843 shares, a decline of 33.9% from the September 30th total of 3,257,971 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 5,732,637 shares, the days-to-cover ratio is presently 0.4 days.

Analysts Set New Price Targets

CIG has been the topic of several recent analyst reports. Weiss Ratings lowered Comp En De Mn Cemig ADS from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, October 26th. Wall Street Zen raised Comp En De Mn Cemig ADS to a "hold" rating in a research report on Saturday, October 17th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold".

Comp En De Mn Cemig ADS Stock Down 0.3%

Shares of NYSE CIG opened at $1.82 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Comp En De Mn Cemig ADS has a 12 month low of $1.81 and a 12 month high of $2.76. The firm has a fifty day simple moving average of $2.14 and a two-hundred day simple moving average of $2.21. The firm has a market capitalization of $5.22 billion, a PE ratio of 9.61 and a beta of 0.86.

Institutional Trading of Comp En De Mn Cemig ADS

Institutional investors and hedge funds have recently modified their holdings of the stock. DGS Capital Management LLC increased its holdings in shares of 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 valued at $123,000 after acquiring an additional 4,196 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in 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 acquiring an additional 4,612 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Comp En De Mn Cemig ADS by 25.4% in the 1st quarter. EverSource Wealth Advisors LLC now owns 32,511 shares of the utilities provider's stock worth $78,000 after buying an additional 6,588 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Comp En De Mn Cemig ADS by 61.6% during the first quarter. Allspring Global Investments Holdings LLC now owns 17,445 shares of the utilities provider's stock worth $43,000 after buying an additional 6,652 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in Comp En De Mn Cemig ADS by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,087,768 shares of the utilities provider's stock worth $2,600,000 after buying an additional 8,805 shares during the period.

About Comp En De Mn Cemig ADS

Companhia Energética de Minas Gerais SA, commonly known as Cemig, is a Brazilian electric utility headquartered in Minas Gerais. The company operates across the power sector, with activities that include electricity generation, transmission, distribution and commercialization.

Cemig supplies electricity to customers throughout Minas Gerais and manages a portfolio of power-generation assets, including hydroelectric facilities. Through affiliated businesses, the company has also participated in natural gas distribution and other energy-related activities.

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