Mitsui Chemicals, Inc. (OTCMKTS:MITUY) Shares Shorted: Short Interest Up 810.4% in October

Mitsui Chemicals, Inc. (OTCMKTS:MITUY) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 965 shares, an increase of 810.4% from the September 30th total of 106 shares. Based on an average trading volume of 1,405 shares, the short-interest ratio is presently 0.7 days.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group downgraded Mitsui Chemicals from a “neutral” rating to a “sell” rating in a report on Thursday, October 8th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company has a consensus rating of “Sell”.

Mitsui Chemicals Stock Performance

Shares of OTCMKTS:MITUY opened at $13.38 on Thursday. The company has a 50-day moving average price of $12.46 and a 200 day moving average price of $12.32. Mitsui Chemicals has a 52 week low of $10.24 and a 52 week high of $15.30.

Mitsui Chemicals Company Profile

Mitsui Chemicals, Inc is a Japan-based chemical company that develops, manufactures and markets a broad range of basic and specialty chemicals. Its products are used in industries including automotive, electronics, packaging, construction, agriculture, healthcare and personal care.

The company’s portfolio includes polyolefins, elastomers, polyurethane materials, specialty resins, films, adhesives, coatings materials, catalysts and agricultural chemicals. Mitsui Chemicals also supplies healthcare-related products such as dental materials, vision-care materials and nonwoven fabrics, as well as functional materials used in food and pharmaceutical packaging.

Mitsui Chemicals was formed in 1997 through the merger of Mitsui Petrochemical Industries and Mitsui Toatsu Chemicals, combining businesses with roots in Japan’s petrochemical industry.