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

Mitsubishi Electric Co. (OTCMKTS:MIELY) was the recipient of a significant growth in short interest in October. As of October 15th, there was short interest totalling 152,400 shares, a growth of 399.7% from the September 30th total of 30,500 shares. Based on an average trading volume of 333,600 shares, the days-to-cover ratio is presently 0.5 days.

Mitsubishi Electric Stock Performance

Shares of MIELY traded down $0.20 during trading hours on Friday, reaching $30.34. The company had a trading volume of 51,213 shares, compared to its average volume of 77,056. Mitsubishi Electric has a 12-month low of $22.54 and a 12-month high of $38.48. The firm has a 50 day simple moving average of $32.18 and a 200-day simple moving average of $32.95.

About Mitsubishi Electric

Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. The company operates through: Infrastructure, Industry Mobility, Life, Business Platform, Semiconductor and Device, and Others segments. 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, 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.