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

Key Points

• Mitsubishi Electric shares gapped down to open at $50.45 from a previous close of $51.76, with the last trading price at $51.80.
• CLSA upgraded Mitsubishi Electric to a "hold" rating, aligning with the current consensus rating of "Hold" from analysts.
• The company has a market cap of $55.73 billion and a price-to-earnings ratio of 28.06.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) shares gapped down prior to trading on Monday . The stock had previously closed at $51.76, but opened at $50.45. Mitsubishi Electric shares last traded at $51.80, with a volume of 700 shares traded.

Analysts Set New Price Targets

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

Mitsubishi Electric Price Performance

The stock has a 50 day simple moving average of $50.61 and a two-hundred day simple moving average of $44.09. The company has a market cap of $55.73 billion, a price-to-earnings ratio of 28.06 and a beta of 0.54.

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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