Mitsubishi Electric (OTCMKTS:MIELY) Shares Gap Down - What's Next?

Key Points

• Mitsubishi Electric's stock price gapped down from $53.15 to $51.44 at the opening on Friday, with the last traded price at $51.56.
• The company's stock rating has recently been upgraded to a "hold" by CLSA, with an average rating of "Hold" among analysts.
• Mitsubishi Electric has a market cap of $53.68 billion, and its stocks exhibit a PE ratio of 27.02 and a beta of 0.54.

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $53.15, but opened at $51.44. Mitsubishi Electric shares last traded at $51.56, with a volume of 936 shares changing hands.

Analysts Set New Price Targets

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

Mitsubishi Electric Stock Performance

The stock has a 50 day simple moving average of $50.23 and a two-hundred day simple moving average of $43.42. The firm has a market cap of $53.68 billion, a PE ratio of 27.02 and a beta of 0.54.

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.

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