Mitsubishi Electric (OTCMKTS:MIELY) Shares Down 0.9% - Time to Sell?

Key Points

• Mitsubishi Electric's stock price decreased by 0.9% to $47.39, with a notable drop in trading volume at 39,417 shares, which is 64% lower than the average daily volume.
• Analysts have upgraded Mitsubishi Electric's rating to "hold", indicating a cautious outlook based on recent performance trends.
• The company's market capitalization stands at $50.07 billion, with a PE ratio of 25.21, suggesting further analysis may be needed to assess its investment potential.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report)'s stock price dropped 0.9% during mid-day trading on Tuesday . The stock traded as low as $45.49 and last traded at $47.39. Approximately 39,417 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 110,571 shares. The stock had previously closed at $47.82.

Analysts Set New Price Targets

Separately, CLSA upgraded Mitsubishi Electric to a "hold" rating in a research report on Monday, August 4th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Hold".

Mitsubishi Electric Stock Performance

The company has a market cap of $50.07 billion, a PE ratio of 25.21 and a beta of 0.63. The business's 50-day moving average is $45.77 and its 200 day moving average is $40.40.

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.

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