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

Key Points

• Short interest fell 42.1% in April to 21,105 shares (from 36,460 on March 31), leaving approximately 0.0% of shares short and a short-interest ratio of just 0.1 days.
• Mitsubishi Electric traded at $75.87 with a market cap of $80.16B and a P/E of 71.57, and recent analyst actions (UBS to "hold", Zacks to "strong-buy") leave the stock with an average rating of Moderate Buy.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 21,105 shares, a decrease of 42.1% from the March 31st total of 36,460 shares. Approximately 0.0% of the shares of the stock are short sold. Based on an average trading volume of 186,929 shares, the short-interest ratio is presently 0.1 days.

Mitsubishi Electric Price Performance

OTCMKTS:MIELY traded up $0.31 during trading hours on Monday, reaching $75.87. 4,788 shares of the company traded hands, compared to its average volume of 121,992. The firm's 50-day moving average is $71.09 and its 200-day moving average is $63.29. The stock has a market cap of $80.16 billion, a P/E ratio of 71.57 and a beta of 0.58. Mitsubishi Electric has a 1-year low of $37.52 and a 1-year high of $78.69.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. UBS Group upgraded Mitsubishi Electric from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. Zacks Research upgraded Mitsubishi Electric from a "hold" rating to a "strong-buy" rating in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy".

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation OTCMKTS: MIELY is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.

The company's product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.

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