Mitsubishi Electric (OTCMKTS:MIELY) Stock Price Down 0.7% - Here's What Happened

Key Points

• Mitsubishi Electric shares dropped by 0.7%, closing at $51.47, on a trading volume of approximately 47,266 shares, significantly lower than its average of 108,016 shares.
• CLSA upgraded Mitsubishi Electric to a "hold" rating, contributing to a consensus rating of "hold" among analysts.
• The company's market capitalization stands at $54.38 billion, with a price-to-earnings ratio of 27.38 and a beta of 0.56.

Shares of Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) dropped 0.7% on Tuesday . The company traded as low as $51.45 and last traded at $51.47. Approximately 47,266 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 108,016 shares. The stock had previously closed at $51.82.

Wall Street Analyst Weigh In

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

Mitsubishi Electric Trading Down 0.7%

The company has a 50 day simple moving average of $48.29 and a 200-day simple moving average of $42.33. The stock has a market cap of $54.38 billion, a price-to-earnings ratio of 27.38 and a beta of 0.56.

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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