Mitsubishi Electric (OTCMKTS:MIELY) Sets New 52-Week High - Should You Buy?

Key Points

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Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report)'s share price hit a new 52-week high during trading on Tuesday . The company traded as high as $53.02 and last traded at $50.95, with a volume of 569 shares. The stock had previously closed at $49.96.

Wall Street Analysts Forecast Growth

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 stock presently has a consensus rating of "Hold".

Mitsubishi Electric Stock Up 2.5%

The business has a 50 day simple moving average of $44.71 and a 200 day simple moving average of $39.56. The company has a market capitalization of $53.65 billion, a PE ratio of 27.01 and a beta of 0.63.

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.