Mitsubishi Electric (OTCMKTS:MIELY) Shares Gap Down – Should You Sell?

Mitsubishi Electric Co. (OTCMKTS:MIELY) shares gapped down before the market opened on Tuesday . The stock had previously closed at $63.94, but opened at $60.00. Mitsubishi Electric shares last traded at $61.11, with a volume of 15,430 shares traded.

Mitsubishi Electric Price Performance

The firm’s 50-day moving average price is $58.75 and its 200-day moving average price is $52.88. The company has a market cap of $66.73 billion, a price-to-earnings ratio of 59.58 and a beta of 0.54.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation (OTCMKTS: MIELY) is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.

The company’s product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.