Short Interest in CEMIG (NYSE:CIG) Drops By 22.6%

CEMIG (NYSE:CIG) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 1,370,000 shares, a decrease of 22.6% from the April 30th total of 1,770,000 shares. Based on an average daily trading volume, of 3,810,000 shares, the short-interest ratio is presently 0.4 days. Currently, 0.0% of the company’s shares are sold short.

CEMIG Stock Up 0.8%

Shares of CIG traded up $0.02 during trading hours on Wednesday, reaching $1.88. 209,489 shares of the stock traded hands, compared to its average volume of 2,418,301. CEMIG has a 52 week low of $1.59 and a 52 week high of $2.19. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.35. The stock has a fifty day simple moving average of $1.80 and a 200 day simple moving average of $1.85. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 3.50 and a beta of 1.07.

CEMIG Cuts Dividend

The firm also recently disclosed a dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 31st were given a $0.033 dividend. The ex-dividend date was Monday, March 31st. CEMIG’s dividend payout ratio is currently 43.48%.

Analyst Ratings Changes

Separately, Bank of America lowered shares of CEMIG from a “neutral” rating to an “underperform” rating in a report on Tuesday, April 1st.

CEMIG Company Profile

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.