Mitsubishi Electric Co. (OTCMKTS:MIELF) has recently seen a significant change in its short interest. As of September 15, 2022, the short interest in the company’s stock increased to 0.67M shares from 0.51M shares a month earlier. This represents an increase of 30.8% in the number of shares shorted.
According to Short Interest Report, the short interest ratio (SIR) for Mitsubishi Electric Co. is currently 2.48. This means that for every 100 shares of the company’s stock, there are 2.48 shares held short. This ratio is a key metric that shows how many shares are held short and can be used to gauge the sentiment of the market towards the company’s stock.
It’s worth noting that a high short interest ratio can be a sign of a potentially oversold market, as more investors may be betting against the company’s stock. Conversely, a low short interest ratio may indicate a market that is less bearish on the company’s prospects. Further analysis would be needed to determine the implications of this data for individual investors.
Source: https://www.marketbeat.com/?RegistrationCode=BackButton&utm_source=backbutton&utm_medium=backbutton