Mitsubishi Electric (OTCMKTS:MIELF) Trading Down 6.6% – Here’s What Happened

Mitsubishi Electric Co. (OTCMKTS:MIELF) shares were down 6.6% on Thursday . The stock traded as low as $41.0720 and last traded at $41.08. Approximately 1,714 shares changed hands during mid-day trading, a decline of 89% from the average daily volume of 15,564 shares. The stock had previously closed at $44.0050.

Mitsubishi Electric Price Performance

The stock’s 50-day moving average is $36.08 and its 200 day moving average is $32.28. The company has a market cap of $85.67 billion, a PE ratio of 42.45 and a beta of 0.63.

About Mitsubishi Electric

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.