Mitsubishi Electric Co. (OTCMKTS:MIELY) Short Interest Down 14.5% in March

Mitsubishi Electric Co. (OTCMKTS:MIELY) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 36,460 shares, a decline of 14.5% from the March 15th total of 42,644 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 258,778 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Several research firms have weighed in on MIELY. Zacks Research upgraded shares of Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. UBS Group raised Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Mitsubishi Electric Stock Down 0.4%

OTCMKTS:MIELY opened at $74.60 on Friday. The company has a market cap of $78.82 billion, a P/E ratio of 70.38 and a beta of 0.58. The firm’s 50 day moving average is $71.10 and its two-hundred day moving average is $62.33. Mitsubishi Electric has a fifty-two week low of $34.50 and a fifty-two week high of $78.69.

About Mitsubishi Electric

Mitsubishi Electric Corporation (OTCMKTS: MIELY) is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.

The company’s product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.