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

Key Points

• Mitsubishi Electric shares gapped down pre-market, opening at $36.6480 after closing at $39.2780 and last trading at $36.6480, a move reflecting about a 6.7% gap lower from the prior close.
• The stock is trading down ~0.2% with a market capitalization of $84.17 billion, a P/E of 41.70, beta of 0.63, and sits above its 50-day ($35.70) and 200-day ($31.94) moving averages.
• Volume on the move was extremely light (only 246 shares), and Mitsubishi Electric is a diversified Japanese industrial conglomerate supplying power systems, factory automation, building systems, transportation and defense products.

Mitsubishi Electric Co. (OTCMKTS:MIELF - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $39.2780, but opened at $36.6480. Mitsubishi Electric shares last traded at $36.6480, with a volume of 246 shares.

Mitsubishi Electric Trading Down 0.2%

The stock has a market capitalization of $84.17 billion, a price-to-earnings ratio of 41.70 and a beta of 0.63. The stock's 50 day moving average is $35.70 and its two-hundred day moving average is $31.94.

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.

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