Mitsubishi Electric (OTCMKTS:MIELF) Shares Gap Up - Still a Buy?

Key Points

• Mitsubishi Electric's shares gapped up from a previous close of $20.95 to open at $22.00 during Tuesday's trading session.
• The company's market capitalization is $48.57 billion with a PE ratio of 24.06, reflecting a solid financial positioning.
• Mitsubishi Electric operates through five segments, providing a wide range of products including electrical and electronic equipment used in various industries worldwide.

Shares of Mitsubishi Electric Co. (OTCMKTS:MIELF - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $20.95, but opened at $22.00. Mitsubishi Electric shares last traded at $21.84, with a volume of 1,277 shares trading hands.

Mitsubishi Electric Stock Up 10.4%

The company has a market capitalization of $52.43 billion, a P/E ratio of 25.98 and a beta of 0.63. The business has a 50 day simple moving average of $21.22 and a 200-day simple moving average of $18.99.

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.