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

Mitsubishi Electric Co. (OTCMKTS:MIELY) was the target of a large growth in short interest in April. As of April 30th, there was short interest totaling 234,322 shares, a growth of 1,010.3% from the April 15th total of 21,105 shares. Based on an average daily trading volume, of 258,462 shares, the short-interest ratio is currently 0.9 days. Currently, 0.0% of the shares of the stock are short sold.

Mitsubishi Electric Price Performance

Mitsubishi Electric stock opened at $83.16 on Tuesday. The stock has a market cap of $87.87 billion, a price-to-earnings ratio of 78.45 and a beta of 0.73. Mitsubishi Electric has a 1 year low of $37.53 and a 1 year high of $86.00. The firm has a 50-day moving average of $72.25 and a two-hundred day moving average of $65.17.

Analysts Set New Price Targets

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

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.