Mitsubishi Electric (OTCMKTS:MIELF) Shares Down 7.8% – What’s Next?

Mitsubishi Electric Co. (OTCMKTS:MIELF)’s share price was down 7.8% on Wednesday . The company traded as low as $36.3260 and last traded at $36.3260. Approximately 1,003 shares traded hands during trading, a decline of 46% from the average daily volume of 1,862 shares. The stock had previously closed at $39.4120.

Mitsubishi Electric Trading Down 7.7%

The business has a 50-day moving average price of $33.05 and a 200 day moving average price of $28.94. The stock has a market capitalization of $78.12 billion, a P/E ratio of 38.70 and a beta of 0.63.

About Mitsubishi Electric

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.