Mitsubishi Electric (OTCMKTS:MIELY) Hits New 52-Week High – Time to Buy?

Mitsubishi Electric Co. (OTCMKTS:MIELY) shares reached a new 52-week high on Tuesday . The company traded as high as $81.86 and last traded at $81.5072, with a volume of 43597 shares trading hands. The stock had previously closed at $75.8150.

Analyst Upgrades and Downgrades

MIELY has been the topic of a number of research analyst reports. UBS Group upgraded shares of Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. Zacks Research cut shares of Mitsubishi Electric from a “strong-buy” rating to a “hold” rating in a research note on Monday. Three equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Mitsubishi Electric has a consensus rating of “Hold”.

Mitsubishi Electric Price Performance

The firm has a 50-day moving average of $71.75 and a 200 day moving average of $63.96. The company has a market capitalization of $84.89 billion, a PE ratio of 75.79 and a beta of 0.58.

About Mitsubishi Electric

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.