Mitsubishi Electric (OTCMKTS:MIELY) Stock Price Down 4.7% - What's Next?

Key Points

• Shares fell 4.7% to $64.35 on Thursday, with just 7,892 shares traded—about 94% below the average daily volume of 132,270.
• Analysts updated views recently: UBS upgraded from "strong sell" to "hold" and Zacks to "strong-buy," leaving an overall consensus of Moderate Buy (one Strong Buy, two Holds).
• Mitsubishi Electric has a market cap of $69.55 billion and a P/E of 62.10, trading below its 50‑day moving average ($69.64) but above its 200‑day average ($60.75), with a beta of 0.52.

Shares of Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) dropped 4.7% during trading on Thursday . The stock traded as low as $64.35 and last traded at $64.35. Approximately 7,892 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 132,270 shares. The stock had previously closed at $67.50.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MIELY shares. UBS Group raised shares of Mitsubishi Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, March 9th. Zacks Research raised shares of Mitsubishi Electric from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy".

Mitsubishi Electric Stock Down 2.5%

The firm has a 50 day moving average price of $69.64 and a 200 day moving average price of $60.75. The stock has a market cap of $69.55 billion, a PE ratio of 62.10 and a beta of 0.52.

About Mitsubishi Electric

Mitsubishi Electric Corporation OTCMKTS: MIELY is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.

The company's product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.

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