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

Mitsubishi Electric Co. (OTCMKTS:MIELFGet Rating) was the recipient of a large decline in short interest in December. As of December 30th, there was short interest totalling 1,398,400 shares, a decline of 18.4% from the December 15th total of 1,712,900 shares. Based on an average daily volume of 3,400 shares, the short-interest ratio is presently 411.3 days.

Mitsubishi Electric Price Performance

Shares of OTCMKTS:MIELF opened at $10.20 on Friday. The company’s fifty day moving average is $9.86 and its two-hundred day moving average is $9.88. Mitsubishi Electric has a 12-month low of $8.68 and a 12-month high of $13.36.

Mitsubishi Electric (OTCMKTS:MIELFGet Rating) last announced its quarterly earnings data on Friday, October 28th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). The company had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $9.48 billion.

About Mitsubishi Electric

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Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. It offers turbine generators, hydraulic 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.

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