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

Mitsubishi Electric Co. (OTCMKTS:MIELF)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $32.8180, but opened at $30.70. Mitsubishi Electric shares last traded at $30.70, with a volume of 125 shares traded.

Mitsubishi Electric Stock Up 1.8%

The firm has a market capitalization of $68.71 billion, a P/E ratio of 34.04 and a beta of 0.63. The business’s 50 day moving average is $29.65 and its 200-day moving average is $26.69.

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.