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

Mitsubishi Electric Co. (OTCMKTS:MIELY) was the target of a large increase in short interest in April. As of April 30th, there was short interest totaling 234,322 shares, an increase of 1,010.3% from the April 15th total of 21,105 shares. Based on an average daily volume of 258,462 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.0% of the company’s stock are sold short.

Mitsubishi Electric Stock Down 1.1%

OTCMKTS MIELY opened at $83.16 on Tuesday. The firm has a market cap of $87.87 billion, a PE ratio of 78.45 and a beta of 0.73. The company has a 50 day moving average price of $72.25 and a 200 day moving average price of $65.17. Mitsubishi Electric has a 52 week low of $37.53 and a 52 week high of $86.00.

Analysts Set New Price Targets

Several research firms have recently commented on MIELY. Zacks Research lowered shares of Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. UBS Group upgraded shares of Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

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.