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

Mitsubishi Electric Co. (OTCMKTS:MIELY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $61.87, but opened at $59.30. Mitsubishi Electric shares last traded at $58.99, with a volume of 1,163 shares changing hands.

Mitsubishi Electric Stock Performance

The stock has a 50 day moving average of $54.98 and a 200 day moving average of $49.38. The stock has a market capitalization of $62.34 billion, a P/E ratio of 55.67 and a beta of 0.57.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation develops, manufactures, distributes, and sells electrical and electronic equipment worldwide. The company operates through: Infrastructure, Industry Mobility, Life, Business Platform, Semiconductor and Device, and Others segments. It offers turbine generators, nuclear power plant and power electronics equipment, motors, transformers, circuit breakers, gas insulated switchgears, switch controls, surveillance-system control and security systems, transmission and distribution ICT systems, display devices, locomotive and rolling stock electrical equipment, wireless and wired communications systems, network camera systems, elevators, escalators, building security and management systems, and others.