Short Interest in Mitsubishi Electric Co. (OTCMKTS:MIELY) Increases By 129.5%

Mitsubishi Electric Co. (OTCMKTS:MIELY – Get Free Report) was the recipient of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 55,528 shares, an increase of 129.5% from the June 15th total of 24,199 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 222,143 shares, the days-to-cover ratio is presently 0.2 days.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded shares of Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Three analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

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Mitsubishi Electric Price Performance

Shares of MIELY traded up $0.85 on Wednesday, reaching $70.34. 13,884 shares of the stock traded hands, compared to its average volume of 123,300. The stock’s 50-day moving average price is $75.80 and its 200-day moving average price is $71.35. The firm has a market cap of $74.33 billion, a price-to-earnings ratio of 66.36 and a beta of 0.75. Mitsubishi Electric has a 12 month low of $40.20 and a 12 month high of $86.00.

Mitsubishi Electric Company Profile

(Get Free Report)

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.

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