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

Mitsubishi Electric Co. (OTCMKTS:MIELY) was the target of a significant decrease in short interest in the month of July. As of July 31st, there was short interest totaling 25,287 shares, a decrease of 46.1% from the July 15th total of 46,928 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 178,117 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, Zacks Research raised shares of Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Mitsubishi Electric currently has an average rating of “Buy”.

Mitsubishi Electric Stock Down 0.1%

MIELY stock traded down $0.08 during midday trading on Monday, hitting $76.87. The company’s stock had a trading volume of 101,435 shares, compared to its average volume of 116,709. Mitsubishi Electric has a 12 month low of $45.49 and a 12 month high of $86.00. The company has a 50 day moving average of $71.82 and a two-hundred day moving average of $72.84. The firm has a market capitalization of $81.22 billion, a price-to-earnings ratio of 58.68 and a beta of 0.76.

Mitsubishi Electric (OTCMKTS:MIELY) last released its quarterly earnings data 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 company had revenue of $9.40 billion for the quarter, compared to the consensus estimate of $8.75 billion.

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.