CEMIG (NYSE:CIG) was the target of a significant decline in short interest in February. As of February 28th, there was short interest totalling 3,968,339 shares, a decline of 39.9% from the February 15th total of 6,605,035 shares. Based on an average daily volume of 3,582,800 shares, the short-interest ratio is presently 1.1 days.
A number of analysts have recently commented on the company. HSBC cut CEMIG from a “buy” rating to a “hold” rating in a research report on Wednesday, January 30th. Goldman Sachs Group cut CEMIG from a “neutral” rating to a “sell” rating in a research report on Thursday, January 3rd. Citigroup cut CEMIG from a “neutral” rating to a “sell” rating in a research report on Wednesday, January 16th. Finally, Santander upgraded CEMIG from a “hold” rating to a “buy” rating in a research report on Tuesday, December 18th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold”.
Shares of CIG stock opened at $3.90 on Wednesday. The stock has a market capitalization of $4.85 billion, a P/E ratio of 15.00 and a beta of 0.23. CEMIG has a 52-week low of $1.56 and a 52-week high of $3.98. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.21.
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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.
Read More: Quiet Period Expirations
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