Mitsubishi Electric (OTCMKTS:MIELY) Reaches New 52-Week High - Still a Buy?

Key Points

• Mitsubishi Electric reached a new 52-week high of $50.28, closing at $49.15 with a trading volume of 53,995 shares.
• Analyst firm CLSA upgraded Mitsubishi Electric to a "hold" rating on August 4.
• The company has a market capitalization of $51.93 billion and a PE ratio of 26.14.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $50.28 and last traded at $49.15, with a volume of 53995 shares changing hands. The stock had previously closed at $49.26.

Wall Street Analyst Weigh In

Separately, CLSA raised Mitsubishi Electric to a "hold" rating in a report on Monday, August 4th.

Mitsubishi Electric Stock Performance

The company has a market capitalization of $52.14 billion, a price-to-earnings ratio of 26.25 and a beta of 0.63. The company has a 50-day moving average price of $43.78 and a 200-day moving average price of $38.93.

About Mitsubishi Electric

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.