Mitsubishi Electric Co. (OTCMKTS:MIELY) Sees Large Decrease in Short Interest

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

Analyst Ratings Changes

MIELY has been the topic of a number of research reports. UBS Group upgraded Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Zacks Research upgraded Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

Mitsubishi Electric Price Performance

MIELY stock traded down $0.11 on Friday, reaching $74.77. The company’s stock had a trading volume of 27,286 shares, compared to its average volume of 126,940. Mitsubishi Electric has a 52 week low of $34.50 and a 52 week high of $78.69. The company has a market capitalization of $79.00 billion, a P/E ratio of 70.53 and a beta of 0.58. The firm has a fifty day moving average of $71.07 and a two-hundred day moving average of $62.17.

Mitsubishi Electric Company Profile

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.