Mitsubishi Electric Co. (OTCMKTS:MIELY) Shares Shorted: Short Interest Down 44.1% in September

by · The Markets Daily

Mitsubishi Electric Co. (OTCMKTS:MIELY – Get Free Report) saw a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 40,539 shares, a decrease of 44.1% from the August 31st total of 72,509 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 222,617 shares, the short-interest ratio is currently 0.2 days.

Mitsubishi Electric Trading Up 0.5%

OTCMKTS MIELY traded up $0.33 during trading hours on Wednesday, hitting $66.33. 31,180 shares of the company’s stock were exchanged, compared to its average volume of 112,513. The stock has a 50-day simple moving average of $69.30 and a 200 day simple moving average of $72.12. Mitsubishi Electric has a 1-year low of $49.64 and a 1-year high of $86.00. The firm has a market cap of $70.08 billion, a price-to-earnings ratio of 50.63 and a beta of 0.76.

Mitsubishi Electric (OTCMKTS:MIELY – Get Free Report) last issued its quarterly earnings results on Friday, July 31st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.04. The business had revenue of $9.40 billion during the quarter, compared to analyst estimates of $8.75 billion.

Wall Street Analyst Weigh In

MIELY has been the subject of a number of analyst reports. Zacks Research downgraded Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 28th. Sanford C. Bernstein started coverage on shares of Mitsubishi Electric in a research report on Tuesday, September 15th. They set an “outperform” rating for the company. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

View Our Latest Analysis on Mitsubishi Electric

Mitsubishi Electric Company Profile

(Get Free Report)

Mitsubishi Electric Corporation is a Japan-based manufacturer of electrical and electronic equipment serving industrial, commercial and consumer markets. Its product portfolio includes air-conditioning and refrigeration systems, factory automation equipment, elevators and escalators, power-generation and transmission systems, railway and automotive equipment, and semiconductors and other electronic components.

The company also develops information and communications systems, satellites and space-related equipment, building systems, and other infrastructure technologies.

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