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Companhia Energetica Minas Gerais (NYSE:CIG) was the recipient of a significant increase in short interest in the month of June. As of June 13th, there was short interest totalling 19,569,585 shares, an increase of 41.6% from the May 30th total of 13,817,191 shares, Stock Ratings Network reports. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 3,974,878 shares, the days-to-cover ratio is presently 4.9 days.

CIG has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of Companhia Energetica Minas Gerais from an “outperform” rating to a “neutral” rating in a research note on Monday, June 16th. They now have a $8.25 price target on the stock.

Companhia Energetica Minas Gerais (NYSE:CIG) opened at 8.15 on Monday. Companhia Energetica Minas Gerais has a 1-year low of $5.23 and a 1-year high of $8.40. The stock’s 50-day moving average is $7.69 and its 200-day moving average is $6.5. The company has a market cap of $10.255 billion and a P/E ratio of 6.32.

Companhia Energetica de Minas Gerais Cemig is a Brazil-based holding company primarily engaged in the electricity sector.

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