Mitsubishi Electric Co. (OTCMKTS:MIELY) Short Interest Update

Key Points

• Mitsubishi Electric Co. experienced a significant 40.8% decrease in short interest, down to 32,800 shares as of August 31st.
• The company's stock price rose to $52.62, with a twelve-month high of $53.02 and low of $29.80, indicating strong market performance.
• CLSA upgraded Mitsubishi Electric to a "hold" rating, reflecting cautious optimism among analysts regarding its stock performance.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) was the recipient of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 32,800 shares, a drop of 40.8% from the August 15th total of 55,400 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily volume of 73,700 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 73,700 shares, the short-interest ratio is currently 0.4 days. Approximately 0.0% of the company's stock are sold short.

Mitsubishi Electric Trading Up 0.5%

OTCMKTS MIELY traded up $0.24 during trading on Friday, hitting $51.64. 113,151 shares of the company traded hands, compared to its average volume of 108,528. Mitsubishi Electric has a 12 month low of $29.80 and a 12 month high of $53.17. The business has a fifty day simple moving average of $47.69 and a 200 day simple moving average of $41.92. The company has a market capitalization of $54.56 billion, a P/E ratio of 27.47 and a beta of 0.56.

Analyst Upgrades and Downgrades

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

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.