Comp En De Mn Cemig ADS (NYSE:CIG) Short Interest Up 48.0% in July

Comp En De Mn Cemig ADS (NYSE:CIG) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 3,502,794 shares, an increase of 48.0% from the July 15th total of 2,366,935 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 5,037,068 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On Comp En De Mn Cemig ADS

Several institutional investors have recently bought and sold shares of the company. Greenspring Advisors LLC bought a new stake in Comp En De Mn Cemig ADS in the fourth quarter valued at approximately $30,000. SmartHarvest Portfolios LLC acquired a new position in Comp En De Mn Cemig ADS during the fourth quarter valued at approximately $30,000. Inspire Advisors LLC lifted its stake in Comp En De Mn Cemig ADS by 55.8% during the fourth quarter. Inspire Advisors LLC now owns 15,716 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 5,631 shares during the last quarter. EP Wealth Advisors LLC bought a new stake in Comp En De Mn Cemig ADS during the fourth quarter worth $33,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Comp En De Mn Cemig ADS by 61.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 17,445 shares of the utilities provider’s stock valued at $43,000 after purchasing an additional 6,652 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Comp En De Mn Cemig ADS from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Comp En De Mn Cemig ADS has a consensus rating of “Hold”.

Comp En De Mn Cemig ADS Trading Up 1.8%

Shares of Comp En De Mn Cemig ADS stock traded up $0.04 during trading on Wednesday, hitting $1.94. 1,647,655 shares of the company were exchanged, compared to its average volume of 6,063,845. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Comp En De Mn Cemig ADS has a 1-year low of $1.89 and a 1-year high of $2.76. The firm’s fifty day moving average price is $2.10 and its 200 day moving average price is $2.25. The firm has a market capitalization of $5.54 billion, a P/E ratio of 10.18 and a beta of 0.78.

Comp En De Mn Cemig ADS Company Profile

Companhia Energética de Minas Gerais SA (Cemig ADS) is a leading Brazilian energy company primarily engaged in the generation, transmission, distribution and commercialization of electric power. Headquartered in Belo Horizonte, the company operates as a vertically integrated utility, serving residential, commercial and industrial customers across its concession areas. In addition to its core electricity business, Cemig maintains interests in natural gas distribution and distinct energy-related ventures, including renewable sources and infrastructure projects.

In its generation segment, Cemig manages a diversified portfolio that includes hydroelectric, photovoltaic and wind power plants.