Mitsubishi Electric Co. (OTCMKTS:MIELF) Short Interest Up 114.6% in March

Mitsubishi Electric Co. (OTCMKTS:MIELF) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 2,210,600 shares, an increase of 114.6% from the February 28th total of 1,030,300 shares. Based on an average trading volume of 3,500 shares, the days-to-cover ratio is presently 631.6 days. Approximately 0.1% of the shares of the stock are short sold.

Mitsubishi Electric Price Performance

MIELF remained flat at $20.00 during midday trading on Friday. 5,045 shares of the company’s stock traded hands, compared to its average volume of 6,357. The stock’s 50-day moving average price is $17.25 and its 200 day moving average price is $16.97. Mitsubishi Electric has a fifty-two week low of $13.56 and a fifty-two week high of $20.75. The stock has a market cap of $42.94 billion, a P/E ratio of 21.28 and a beta of 0.63.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. The company operates through five segments: Infrastructure, Industry Mobility, Life, Business Platform, and Other Businesses. It offers turbine generators, nuclear power plant and power electronics equipment, motors, transformers, circuit breakers, gas insulated switchgears, switch controls, surveillance-system control and security systems, transmission and distribution ICT systems, large display devices, locomotive and rolling stock electrical equipment, wireless and wired communications systems, network camera systems, elevators, escalators, building security and management systems, and others.