Mitsubishi Electric (OTCMKTS:MIELY) Sets New 52-Week High – Time to Buy?

Shares of Mitsubishi Electric Co. (OTCMKTS:MIELY) reached a new 52-week high during trading on Tuesday . The stock traded as high as $81.86 and last traded at $81.5072, with a volume of 43597 shares traded. The stock had previously closed at $75.8150.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MIELY shares. Zacks Research raised shares of Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 3rd. UBS Group raised shares of Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy”.

Mitsubishi Electric Price Performance

The firm’s 50-day moving average is $71.13 and its two-hundred day moving average is $63.45. The company has a market cap of $90.76 billion, a P/E ratio of 81.04 and a beta of 0.58.

Mitsubishi Electric Company Profile

Mitsubishi Electric Corporation (OTCMKTS: MIELY) is a Tokyo-based multinational manufacturer of electrical and electronic equipment. Founded in 1921, the company is part of the broader Mitsubishi Group and has grown into a diversified industrial enterprise serving commercial, industrial and consumer markets. Mitsubishi Electric develops, manufactures and sells a wide range of products and systems used in building systems, factory automation, power generation and distribution, transportation, and information and communication infrastructure.

The company’s product and service portfolio includes air-conditioning and heating systems, elevators and escalators, factory automation and control equipment, power and electric systems, transportation systems and signaling for railways, and semiconductors and electronic devices.