Mitsubishi Electric Co. (OTCMKTS:MIELY) has seen a significant decline in short interest in recent days. As of the last update on August 31, 2022, MIELY has a short interest count of 21,300. This represents a decrease of 27.7% from July 15, 2022, when it reported a short interest count of 29,400.
The share price of MIELY has been volatile over the past year, ranging from a low of $12.83 to a high of $23.65. It is currently trading at $16.64.
There are currently no analysts covering MIELY, making it difficult to determine its forward momentum. However, with the decrease in short interest, analyst expectations are starting to shift. If investors continue to buy the stock, we may see a surge in its price.
Despite the short interest decrease, it’s still unsure whether the company’s valuation will continue to drop. Investors and analysts will be closely monitoring MIELY’s performance in the coming months to determine its long-term prospects.