Mitsubishi Electric Co. (OTCMKTS:MIELF) Sees Large Drop in Short Interest

Mitsubishi Electric Co. (OTCMKTS:MIELF - Get Free Report) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totalling 783,400 shares, a decline of 15.8% from the April 30th total of 930,300 shares. Currently, 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 900 shares, the days-to-cover ratio is currently 870.4 days.

Mitsubishi Electric Stock Performance

Shares of OTCMKTS MIELF traded up $0.33 during trading on Friday, reaching $21.08. The stock had a trading volume of 50,280 shares, compared to its average volume of 7,428. Mitsubishi Electric has a fifty-two week low of $13.56 and a fifty-two week high of $22.10. The business's 50-day moving average price is $19.21 and its 200-day moving average price is $17.89. The company has a market cap of $45.26 billion, a P/E ratio of 22.43 and a beta of 0.63.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. The company operates through five segments: Infrastructure, Industry Mobility, Life, Business Platform, and Other Businesses. It offers turbine generators, nuclear power plant and power electronics equipment, motors, transformers, circuit breakers, gas insulated switchgears, switch controls, surveillance-system control and security systems, transmission and distribution ICT systems, large display devices, locomotive and rolling stock electrical equipment, wireless and wired communications systems, network camera systems, elevators, escalators, building security and management systems, and others.