Short Interest in CEMIG (NYSE:CIG) Decreases By 5.1%

CEMIG (NYSE:CIG – Get Rating) was the recipient of a large decline in short interest in February. As of February 28th, there was short interest totalling 2,800,000 shares, a decline of 5.1% from the February 13th total of 2,950,000 shares. Based on an average trading volume of 4,980,000 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP increased its stake in CEMIG by 66.4% during the 4th quarter. Marshall Wace LLP now owns 3,533,362 shares of the utilities provider’s stock valued at $7,173,000 after purchasing an additional 1,410,006 shares in the last quarter. SPX Gestao de Recursos Ltda increased its stake in CEMIG by 436.2% during the 4th quarter. SPX Gestao de Recursos Ltda now owns 864,292 shares of the utilities provider’s stock valued at $1,755,000 after purchasing an additional 703,090 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of CEMIG by 12.9% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 45,891 shares of the utilities provider’s stock worth $93,000 after acquiring an additional 5,229 shares during the period. Institutional investors and hedge funds own 3.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, TheStreet upgraded shares of CEMIG from a “c+” rating to a “b” rating in a research note on Monday, December 12th.

CEMIG Trading Up 1.5 %

Shares of CEMIG stock opened at $2.04 on Thursday. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 0.49. CEMIG has a 12-month low of $1.82 and a 12-month high of $2.62. The firm has a market capitalization of $4.49 billion, a price-to-earnings ratio of 9.27 and a beta of 0.71. The firm’s 50 day simple moving average is $2.08 and its two-hundred day simple moving average is $2.12.

About CEMIG

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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.