Mitsubishi Electric Co. (OTCMKTS:MIELF) Sees Short Interest Drop by 25.3% in February

Mitsubishi Electric Co. (OTCMKTS:MIELF - Get Free Report) experienced a notable decrease in short interest throughout February. By February 28th, short interest had fallen to 1,030,300 shares, representing a reduction of 25.3% from the total of 1,379,100 shares recorded on February 13th. Given an average daily trading volume of 13,100 shares, this leads to a current short-interest ratio of 78.6 days. It is important to note that approximately 0.0% of the company's shares are sold short.

Mitsubishi Electric Stock Performance

On Friday, Mitsubishi Electric’s stock rose by $1.78 to reach $19.98 during midday trading. The company experienced a trading volume of 2,560 shares, compared to its average volume of 6,489 shares. Currently, Mitsubishi Electric holds a market capitalization of $42.90 billion, a price-to-earnings (P/E) ratio of 21.26, and a beta of 0.63. Over the past year, the stock has seen a low of $13.56 and a high of $19.98. The fifty-day moving average price for the stock is $16.57, while the 200-day moving average price is $16.70.

About Mitsubishi Electric Corporation

Mitsubishi Electric Corporation operates globally, developing, manufacturing, distributing, and selling electrical and electronic equipment. The company divides its operations into five segments: Infrastructure, Industry Mobility, Life, Business Platform, and Other Businesses. Among its offerings are turbine generators, nuclear power plant equipment, motors, transformers, circuit breakers, gas insulated switchgears, security systems, and various communication systems.

Investment Considerations

Before investing in Mitsubishi Electric, it's valuable to look at current analyst ratings and general market sentiment. While Mitsubishi Electric holds a Hold rating among analysts, it's advisable to research and consider various other options that top analysts may recommend for potential investment.

Mitsubishi, Electric, Stocks