Mitsubishi Electric Co. (OTCMKTS:MIELY – Get Free Report) saw a large decline in short interest in the month of May. As of May 29th, there was short interest totaling 27,092 shares, a decline of 39.7% from the May 14th total of 44,918 shares. Based on an average daily trading volume, of 235,186 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s shares are short sold.
Mitsubishi Electric Stock Performance
MIELY opened at $73.11 on Wednesday. The firm’s fifty day moving average is $76.49 and its two-hundred day moving average is $69.22. The firm has a market cap of $77.25 billion, a PE ratio of 68.97 and a beta of 0.72. Mitsubishi Electric has a twelve month low of $39.00 and a twelve month high of $86.00.
Analysts Set New Price Targets
A number of brokerages have issued reports on MIELY. UBS Group raised shares of Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Zacks Research downgraded Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average 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.
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