Mitsubishi Electric Co. (OTCMKTS:MIELY) Short Interest Down 80.8% in May

Mitsubishi Electric Co. (OTCMKTS:MIELY) was the recipient of a large decline in short interest in May. As of May 15th, there was short interest totaling 44,918 shares, a decline of 80.8% from the April 30th total of 234,322 shares. Based on an average daily volume of 186,220 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company’s stock are sold short.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MIELY shares. UBS Group raised Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Zacks Research downgraded Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Three investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Mitsubishi Electric Trading Down 0.6%

Mitsubishi Electric stock opened at $81.64 on Thursday. The company has a fifty day simple moving average of $74.43 and a 200-day simple moving average of $67.27. The stock has a market cap of $86.26 billion, a P/E ratio of 77.02 and a beta of 0.73. Mitsubishi Electric has a 12-month low of $39.00 and a 12-month high of $86.00.

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.