Mitsubishi Electric (OTCMKTS:MIELY) Shares Gap Down – Here’s Why

Mitsubishi Electric Co. (OTCMKTS:MIELY) gapped down prior to trading on Wednesday . The stock had previously closed at $54.00, but opened at $52.28. Mitsubishi Electric shares last traded at $54.6550, with a volume of 2,625 shares changing hands.

Analyst Upgrades and Downgrades

Separately, CLSA upgraded shares of Mitsubishi Electric to a “hold” rating in a report on Monday, August 4th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Mitsubishi Electric Stock Up 2.0%

The firm has a market capitalization of $57.99 billion, a P/E ratio of 51.77 and a beta of 0.53. The firm has a 50 day moving average of $53.11 and a 200-day moving average of $47.55.

About Mitsubishi Electric

Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. The company operates through: Infrastructure, Industry Mobility, Life, Business Platform, Semiconductor and Device, and Others segments. It offers turbine generators, nuclear power plant and power electronics equipment, motors, transformers, circuit breakers, gas insulated switchgears, switch controls, surveillance-system control and security systems, transmission and distribution ICT systems, display devices, locomotive and rolling stock electrical equipment, wireless and wired communications systems, network camera systems, elevators, escalators, building security and management systems, and others.