Mitsubishi Electric (OTCMKTS:MIELF) Shares Gap Down – Here’s What Happened

Mitsubishi Electric Co. (OTCMKTS:MIELF) gapped down before the market opened on Tuesday . The stock had previously closed at $36.6080, but opened at $33.90. Mitsubishi Electric shares last traded at $33.90, with a volume of 505 shares trading hands.

Mitsubishi Electric Stock Down 1.8%

The stock has a fifty day moving average of $36.13 and a two-hundred day moving average of $36.80. The stock has a market cap of $72.79 billion, a price-to-earnings ratio of 36.06 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.