Mitsubishi Electric Co. Sees 25.3% Decline in Short Interest for February

Mitsubishi Electric Co. (OTCMKTS:MIELF - Get Free Report) experienced a notable reduction in short interest during February. As of February 28th, the total short interest stood at 1,030,300 shares, which reflects a drop of 25.3% compared to the short interest of 1,379,100 shares recorded on February 13th. Considering the average daily trading volume of 13,100 shares, the current short-interest ratio is 78.6 days. Presently, 0.0% of the company's shares are sold short.

Recent Performance of Mitsubishi Electric's Stock

On Friday, Mitsubishi Electric's stock price rose by $1.78 during midday trading, reaching $19.98. The trading volume for that day was recorded at 2,560 shares, in contrast to its average volume of 6,489 shares. The company has 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 company's stock has hit a low of $13.56 and a high of $19.98. Currently, the fifty-day moving average price is $16.57, while the two-hundred-day moving average price stands at $16.70.

Overview of Mitsubishi Electric

Mitsubishi Electric Corporation specializes in the development, manufacture, distribution, and sale of electrical and electronic equipment on a global scale. The company operates in five main segments: Infrastructure, Industry Mobility, Life, Business Platform, and Other Businesses. Its product offerings include turbine generators, nuclear power and power electronics equipment, various types of motors, transformers, circuit breakers, gas insulated switchgears, surveillance systems, communication systems, elevators, escalators, and building security solutions, among others.

Investment Considerations

Before considering an investment in Mitsubishi Electric, it's essential to review market analysts' recommendations. Currently, while Mitsubishi Electric holds a Hold rating, several top analysts suggest that there are alternative stocks with higher potential returns. This information could be valuable for investors looking to make informed decisions.

Mitsubishi, Stocks, ShortInterest