Mitsubishi Electric Co. (OTCMKTS:MIELY) Sees Significant Increase in Short Interest

Key Points

• Mitsubishi Electric Co. experienced a 193.9% increase in short interest in July, with totals rising from 8,200 shares to 24,100 shares as of July 31st.
• CLSA upgraded the stock to a "hold" rating on August 4th, indicating a cautious optimism about the company's future performance.
• As of the latest trading data, Mitsubishi Electric's stock price was down 0.6% to $49.35, despite having a significant market capitalization of $52.14 billion.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totaling 24,100 shares, anincreaseof193.9% from the July 15th total of 8,200 shares. Currently,0.0% of the company's stock are short sold. Based on an average trading volume of 64,900 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 64,900 shares, the days-to-cover ratio is presently 0.4 days. Currently,0.0% of the company's stock are short sold.

Wall Street Analysts Forecast Growth

Separately, CLSA raised shares of Mitsubishi Electric to a "hold" rating in a report on Monday, August 4th.

Mitsubishi Electric Trading Down 0.6%

OTCMKTS:MIELY traded down $0.31 during mid-day trading on Friday, hitting $49.35. The stock had a trading volume of 49,312 shares, compared to its average volume of 115,805. The stock has a 50-day simple moving average of $43.78 and a two-hundred day simple moving average of $38.93. The company has a market capitalization of $52.14 billion, a PE ratio of 26.25 and a beta of 0.63. Mitsubishi Electric has a twelve month low of $29.80 and a twelve month high of $50.85.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. The company operates through: Infrastructure, Industry Mobility, Life, Business Platform, Semiconductor and Device, and Others segments. 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, 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.

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