Short Interest in Mitsubishi Electric Co. (OTCMKTS:MIELY) Decreases By 39.7%

Mitsubishi Electric Co. (OTCMKTS:MIELY) was the target of a large decline in short interest in 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 short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MIELY shares. 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 cut shares of 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, According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Mitsubishi Electric Stock Up 1.3%

Shares of Mitsubishi Electric stock traded up $0.94 during trading on Tuesday, reaching $73.50. The company’s stock had a trading volume of 36,990 shares, compared to its average volume of 127,451. Mitsubishi Electric has a 52-week low of $39.00 and a 52-week high of $86.00. The company has a market cap of $77.66 billion, a price-to-earnings ratio of 69.34 and a beta of 0.72. The firm’s 50-day moving average is $76.35 and its two-hundred day moving average is $69.09.

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.