Mitsubishi Electric Co. (OTCMKTS:MIELY – Get Free Report) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 94,641 shares, a growth of 117.0% from the September 30th total of 43,621 shares. Based on an average daily volume of 194,681 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the company’s shares are short sold.
Mitsubishi Electric Price Performance
Shares of OTCMKTS:MIELY opened at $61.41 on Friday. The firm has a market capitalization of $64.89 billion, a PE ratio of 46.88 and a beta of 0.81. The business has a 50-day moving average of $65.89 and a two-hundred day moving average of $70.63. Mitsubishi Electric has a 12 month low of $50.20 and a 12 month high of $86.00.
Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last announced its quarterly earnings results on Friday, July 31st. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.04. The business had revenue of $9.40 billion for the quarter, compared to analyst estimates of $8.75 billion.
Analyst Ratings Changes
A number of research analysts have recently commented on MIELY shares. Zacks Research raised shares of Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Sanford C. Bernstein started coverage on shares of Mitsubishi Electric in a research report on Tuesday, September 15th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy”.
View Our Latest Report on Mitsubishi Electric
Mitsubishi Electric Company Profile
Mitsubishi Electric Corporation is a Japan-based global manufacturer of electrical and electronic equipment. Founded in 1921 and headquartered in Tokyo, the company develops products and systems for infrastructure, industry, mobility, buildings, homes and information technology.
Its offerings include factory automation equipment, industrial robots, power generation and transmission systems, railway and transportation equipment, elevators and escalators, heating and cooling systems, air conditioners, home appliances, automotive components, semiconductors and other electronic devices.
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