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

Shares of Mitsubishi Electric Co. (OTCMKTS:MIELY) gapped down prior to trading on Tuesday . The stock had previously closed at $54.76, but opened at $50.54. Mitsubishi Electric shares last traded at $52.3550, with a volume of 1,485 shares changing hands.

Analysts Set New Price Targets

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

Mitsubishi Electric Stock Performance

The company has a market cap of $55.29 billion, a PE ratio of 49.37 and a beta of 0.53. The stock’s 50-day simple moving average is $52.91 and its 200 day simple moving average is $46.94.

Mitsubishi Electric Company Profile

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.