Mitsubishi Electric (OTCMKTS:MIELY) Shares Gap Down - Here's Why

Shares of Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $41.00, but opened at $39.00. Mitsubishi Electric shares last traded at $40.51, with a volume of 2,758 shares trading hands.

Mitsubishi Electric Stock Performance

The stock has a market cap of $43.00 billion, a P/E ratio of 21.65 and a beta of 0.59. The company has a 50-day simple moving average of $39.41 and a 200-day simple moving average of $36.01.

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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