Comp En De Mn Cemig ADS (NYSE:CIG) Shares Shorted: Short Interest Down 35.7% in September

Comp En De Mn Cemig ADS (NYSE:CIG) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totaling 3,411,513 shares, a drop of 35.7% from the August 31st total of 5,306,741 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily volume of 5,457,057 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. TSP Capital Management Group LLC boosted its stake in Comp En De Mn Cemig ADS by 0.8% during the first quarter. TSP Capital Management Group LLC now owns 9,123,551 shares of the utilities provider’s stock valued at $21,805,000 after buying an additional 70,659 shares during the period. Renaissance Technologies LLC increased its stake in Comp En De Mn Cemig ADS by 8.2% in the 1st quarter. Renaissance Technologies LLC now owns 7,993,849 shares of the utilities provider’s stock worth $19,105,000 after acquiring an additional 608,101 shares during the last quarter. Hsbc Holdings PLC increased its stake in Comp En De Mn Cemig ADS by 15.7% in the 1st quarter. Hsbc Holdings PLC now owns 1,357,797 shares of the utilities provider’s stock worth $3,245,000 after acquiring an additional 183,962 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of 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 valued at $2,600,000 after acquiring an additional 8,805 shares in the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Comp En De Mn Cemig ADS by 0.8% in the 4th quarter. Corient Private Wealth LLC now owns 594,303 shares of the utilities provider’s stock valued at $1,190,000 after acquiring an additional 4,800 shares in the last quarter.

Comp En De Mn Cemig ADS Price Performance

Comp En De Mn Cemig ADS stock traded down $0.01 during midday trading on Friday, reaching $2.08. 945,838 shares of the stock were exchanged, compared to its average volume of 5,852,875. Comp En De Mn Cemig ADS has a 52 week low of $1.87 and a 52 week high of $2.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $5.97 billion, a PE ratio of 10.97 and a beta of 0.76. The company’s fifty day moving average is $2.08 and its 200-day moving average is $2.22.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of 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 equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold”.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais SA, commonly known as Cemig, is a Brazilian electric utility headquartered in Belo Horizonte, Minas Gerais. Founded in 1952, the company operates across the electricity value chain, with activities that include power generation, transmission, distribution and energy sales.

Cemig serves customers in Minas Gerais and participates in energy activities elsewhere in Brazil through its operating subsidiaries and investments. Its generation portfolio includes hydroelectric facilities and other renewable energy assets, while its distribution business delivers electricity to residential, commercial and industrial customers.