Short Interest in Mitsubishi Electric Co. (OTCMKTS:MIELF) Rises By 114.6%

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

Mitsubishi Electric Price Performance

Shares of Mitsubishi Electric stock remained flat at $20.00 on Friday. 5,045 shares of the stock were exchanged, compared to its average volume of 6,357. Mitsubishi Electric has a 52-week low of $13.56 and a 52-week high of $20.75. The firm’s 50-day moving average price is $17.25 and its 200 day moving average price is $16.97. The stock has a market cap of $42.94 billion, a PE ratio of 21.28 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.