Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF) Short Interest Update

Key Points

• Mitsubishi Heavy Industries experienced a 29.2% decrease in short interest in August, with total short interest dropping to 9,194,700 shares from 12,995,500 shares in July.
• The company reported earnings of $0.14 per share for the quarter, exceeding analysts' estimates of $0.12, alongside a revenue of $8.28 billion that also surpassed expectations.
• UBS Group downgraded Mitsubishi Heavy Industries from "strong-buy" to "neutral", although the stock still holds a consensus rating of "Buy" from other analysts.

Mitsubishi Heavy Industries, Ltd. (OTCMKTS:MHVYF - Get Free Report) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totaling 9,194,700 shares, a decrease of 29.2% from the July 31st total of 12,995,500 shares. Based on an average daily volume of 50,100 shares, the days-to-cover ratio is presently 183.5 days. Based on an average daily volume of 50,100 shares, the days-to-cover ratio is presently 183.5 days.

Mitsubishi Heavy Industries Price Performance

Shares of OTCMKTS:MHVYF traded up $0.73 during trading on Friday, reaching $25.85. The company had a trading volume of 754 shares, compared to its average volume of 35,295. The company has a fifty day moving average of $24.77 and a two-hundred day moving average of $21.61. The stock has a market capitalization of $87.21 billion, a P/E ratio of 51.70 and a beta of 0.58. Mitsubishi Heavy Industries has a 12 month low of $11.75 and a 12 month high of $28.00. The company has a current ratio of 1.22, a quick ratio of 0.88 and a debt-to-equity ratio of 0.31.

Mitsubishi Heavy Industries (OTCMKTS:MHVYF - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Mitsubishi Heavy Industries had a net margin of 4.92% and a return on equity of 10.23%. The company had revenue of $8.28 billion for the quarter, compared to analyst estimates of $8.22 billion.

Analysts Set New Price Targets

Separately, UBS Group lowered shares of Mitsubishi Heavy Industries from a "strong-buy" rating to a "neutral" rating in a report on Wednesday, May 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy".

About Mitsubishi Heavy Industries

Mitsubishi Heavy Industries, Ltd. manufactures and sells heavy machinery worldwide. It operates through Energy Systems; Plants & Infrastructure Systems; Logistics, Thermal & Drive Systems; and Aircraft, Defense & Space segments. The company offers thermal, renewable energy, nuclear power generation, and engine power plants; oil and gas production plants; lithium-ion battery products and fuel cells; civil aircrafts and engines, aviation equipment, and maintenance, repair, and overhaul of aircrafts; and launch vehicles and services, rocket engines, reaction control systems, space stations, rocket launchers, rocket engine combustion test facilities, and electronic parts.