Mitsubishi Electric Co. (OTCMKTS:MIELY) Short Interest Up 193.9% in July

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 target of a significant growth in short interest during the month of July. As of July 31st, there was short interest totaling 24,100 shares, agrowthof193.9% from the July 15th total of 8,200 shares. Based on an average trading volume of 64,900 shares, the short-interest ratio is currently 0.4 days. Currently,0.0% of the company's shares are sold short. Currently,0.0% of the company's shares are sold short. Based on an average trading volume of 64,900 shares, the short-interest ratio is currently 0.4 days.

Mitsubishi Electric Trading Down 1.0%

Shares of MIELY stock traded down $0.4780 on Thursday, hitting $49.50. 25,186 shares of the stock were exchanged, compared to its average volume of 113,611. Mitsubishi Electric has a one year low of $29.80 and a one year high of $53.0199. The firm's 50 day moving average is $44.34 and its two-hundred day moving average is $39.28. The firm has a market capitalization of $52.30 billion, a PE ratio of 26.33 and a beta of 0.63.

Analyst Ratings Changes

Separately, CLSA upgraded Mitsubishi Electric to a "hold" rating in a report on Monday, August 4th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of "Hold".

About Mitsubishi Electric

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.