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

Mitsubishi Electric Co. (OTCMKTS:MIELY) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 42,644 shares, a growth of 35.5% from the February 26th total of 31,477 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 590,511 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

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

Mitsubishi Electric Stock Performance

Shares of MIELY opened at $64.37 on Friday. Mitsubishi Electric has a 52 week low of $30.89 and a 52 week high of $78.69. The firm has a market capitalization of $68.01 billion, a P/E ratio of 60.73 and a beta of 0.52. The company has a 50-day simple moving average of $69.51 and a 200-day simple moving average of $60.47.

About Mitsubishi Electric

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.