Mitsubishi Electric (OTCMKTS:MIELY) Reaches New 1-Year High - What's Next?

Key Points

• Mitsubishi Electric's share price reached a new 52-week high of $53.17 during trading, closing at $52.25 with a trading volume of 51,624 shares.
• CLSA upgraded Mitsubishi Electric to a "hold" rating, contributing to the stock's average rating of "hold" by analysts.
• The company's market capitalization stands at $56.18 billion, with a PE ratio of 28.28 and a relatively low beta of 0.56, indicating lower volatility.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $53.17 and last traded at $52.25, with a volume of 51624 shares changing hands. The stock had previously closed at $51.40.

Analyst Upgrades and Downgrades

Separately, CLSA raised Mitsubishi Electric to a "hold" rating in a research report on Monday, August 4th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Mitsubishi Electric currently has an average rating of "Hold".

Mitsubishi Electric Stock Down 0.4%

The firm has a 50 day simple moving average of $48.10 and a 200-day simple moving average of $42.27. The company has a market cap of $54.51 billion, a PE ratio of 27.44 and a beta of 0.56.

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.