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

Mitsubishi Electric Co. (OTCMKTS:MIELF) was the target of a significant 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 days-to-cover ratio is currently 631.6 days. Approximately 0.1% of the company’s stock are short sold.

Mitsubishi Electric Stock Performance

MIELF traded up $1.00 during trading on Friday, reaching $20.00. 489 shares of the stock were exchanged, compared to its average volume of 6,357. The stock has a market cap of $42.94 billion, a P/E ratio of 21.28 and a beta of 0.63. The stock’s 50 day moving average price is $17.25 and its two-hundred day moving average price is $16.97. Mitsubishi Electric has a twelve month low of $13.56 and a twelve month high of $20.75.

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.