Mitsubishi Electric (OTCMKTS:MIELF) Shares Gap Down - Here's Why

Key Points

• Mitsubishi Electric shares experienced a significant decline, gapping down from a previous closing price of $26.81 to an opening price of $25.03.
• The stock has dropped by 6.6%, reflecting a trading volume of 3,544 shares shortly after the market opened.
• Mitsubishi Electric has a market capitalization of $53.74 billion and a P/E ratio of 26.63, with current moving averages suggesting volatility in its stock price.

Shares of Mitsubishi Electric Co. (OTCMKTS:MIELF - ) gapped down before the market opened on Tuesday . The stock had previously closed at $26.81, but opened at $25.03. Mitsubishi Electric shares last traded at $25.03, with a volume of 3,544 shares changing hands.

Mitsubishi Electric Stock Down 6.6%

The company has a market cap of $53.74 billion, a P/E ratio of 26.63 and a beta of 0.63. The company has a 50 day moving average price of $25.48 and a 200-day moving average price of $21.96.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. The company operates through five segments: Infrastructure, Industry Mobility, Life, Business Platform, and Other Businesses. 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, large 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.