Mitsubishi Electric Co. (OTCMKTS:MIELF) Sees Large Increase in Short Interest

Mitsubishi Electric Co. (OTCMKTS:MIELF) was the recipient of a significant increase in short interest in the month of January. As of January 31st, there was short interest totalling 1,654,600 shares, an increase of 14.4% from the January 15th total of 1,446,500 shares. Based on an average daily volume of 5,000 shares, the days-to-cover ratio is currently 330.9 days.

Mitsubishi Electric Stock Down 0.4 %

Shares of OTCMKTS MIELF traded down $0.06 during mid-day trading on Friday, hitting $15.36. 64,309 shares of the company were exchanged, compared to its average volume of 10,177. The stock has a 50 day simple moving average of $16.81 and a 200-day simple moving average of $16.44. Mitsubishi Electric has a 1-year low of $13.56 and a 1-year high of $18.70. The firm has a market cap of $32.98 billion, a price-to-earnings ratio of 16.34 and a beta of 0.63.

About Mitsubishi Electric

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.