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

Key Points

• Short interest fell 14.5% in March to 36,460 shares as of March 31, leaving a short-interest ratio of 0.1 days and effectively 0.0% of the float shorted.
• Share snapshot: the stock traded at $74.77 (down $0.11) with a market cap of $79.0B, a P/E of 70.53, 50‑day/200‑day moving averages of $71.07/$62.17, and a 12‑month range of $34.50–$78.69.
• Analyst sentiment has improved recently—Zacks upgraded to Strong Buy and UBS moved to Hold—leaving an overall MarketBeat consensus of "Moderate Buy" (one Strong Buy, two Holds).

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) saw a significant 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. Based on an average daily trading volume, of 258,778 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company's stock are short sold.

Mitsubishi Electric Trading Down 0.1%

OTCMKTS MIELY traded down $0.11 on Friday, hitting $74.77. 27,286 shares of the stock traded hands, compared to its average volume of 126,940. The stock has a 50-day moving average of $71.07 and a 200 day moving average of $62.17. Mitsubishi Electric has a twelve month low of $34.50 and a twelve month 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Zacks Research upgraded Mitsubishi Electric from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. UBS Group upgraded Mitsubishi Electric from a "strong sell" rating to a "hold" rating in a research note on Monday, March 9th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

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.

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