Mitsubishi Electric Co. (OTCMKTS:MIELY) Short Interest Down 40.8% in August

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) saw a large drop in short interest in 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. Based on an average daily trading volume, of 73,700 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.0% of the company's shares are sold short. Approximately 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 73,700 shares, the days-to-cover ratio is currently 0.4 days.

Mitsubishi Electric Stock Performance

Shares of MIELY stock traded up $0.37 on Monday, hitting $52.62. 6,227 shares of the stock traded hands, compared to its average volume of 107,711. The firm's 50-day moving average price is $46.93 and its two-hundred day moving average price is $41.50. Mitsubishi Electric has a twelve month low of $29.80 and a twelve month high of $53.02. The stock has a market capitalization of $55.60 billion, a PE ratio of 27.99 and a beta of 0.56.

Analysts Set New Price Targets

Separately, CLSA upgraded shares of 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 MarketBeat, Mitsubishi Electric 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.

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