Mitsubishi Electric (OTCMKTS:MIELF) Shares Gap Down – What’s Next?

by · The Markets Daily

Mitsubishi Electric Co. (OTCMKTS:MIELF – Get Free Report)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $31.0120, but opened at $29.1809. Mitsubishi Electric shares last traded at $29.1809, with a volume of 382 shares.

Mitsubishi Electric Trading Down 0.7%

The stock has a market capitalization of $62.23 billion, a price-to-earnings ratio of 30.83 and a beta of 0.63. The company’s 50 day moving average is $27.87 and its 200 day moving average is $24.93.

About Mitsubishi Electric

(Get Free Report)

Mitsubishi Electric Corporation (trading OTC as MIELF) is a diversified Japanese multinational manufacturer of electrical and electronic equipment. Established in 1921 as part of the broader Mitsubishi group, the company is headquartered in Tokyo and has grown into a global supplier of products and systems for industrial, commercial, infrastructure and consumer markets.

The company’s operations span a wide range of businesses including power and energy systems, factory automation and industrial machinery, building systems such as elevators and escalators, heating, ventilation and air-conditioning (HVAC) equipment, transportation systems including railway and traffic control solutions, and space and defense-related products.

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