Mitsubishi Electric (OTCMKTS:MIELF) Shares Gap Up – Still a Buy?

Mitsubishi Electric Co. (OTCMKTS:MIELF) shares gapped up before the market opened on Thursday . The stock had previously closed at $36.5360, but opened at $38.5260. Mitsubishi Electric shares last traded at $38.5260, with a volume of 6,577 shares trading hands.

Mitsubishi Electric Stock Up 5.4%

The stock’s 50-day moving average price is $37.80 and its 200 day moving average price is $34.27. The firm has a market cap of $82.72 billion, a price-to-earnings ratio of 40.99 and a beta of 0.63.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation (trading OTC as MIELF) is a diversified Japanese multinational manufacturer of electrical and electronic equipment. Established in 1921 as part of the broader Mitsubishi group, the company is headquartered in Tokyo and has grown into a global supplier of products and systems for industrial, commercial, infrastructure and consumer markets.

The company’s operations span a wide range of businesses including power and energy systems, factory automation and industrial machinery, building systems such as elevators and escalators, heating, ventilation and air-conditioning (HVAC) equipment, transportation systems including railway and traffic control solutions, and space and defense-related products.