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

Key Points

• Mitsubishi Electric experienced a significant increase in short interest in September, rising 119.5% to a total of 72,000 shares.
• The company's stock is trading at $51.17, with a market cap of $54.07 billion and a PE ratio of 27.22.
• Analysts have maintained a "Hold" rating on the stock, with CLSA raising it to "Hold" in early August.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 72,000 shares, an increase of 119.5% from the August 31st total of 32,800 shares. Based on an average daily volume of 123,800 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 123,800 shares, the days-to-cover ratio is currently 0.6 days.

Mitsubishi Electric Stock Up 2.0%

MIELY opened at $51.17 on Friday. The business has a 50 day moving average price of $49.50 and a two-hundred day moving average price of $43.03. The company has a market cap of $54.07 billion, a PE ratio of 27.22 and a beta of 0.54. Mitsubishi Electric has a 52 week low of $29.80 and a 52 week high of $53.17.

Analysts Set New Price Targets

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, the stock presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.