Mitsubishi Electric (OTCMKTS:MIELF) Shares Gap Up – Still a Buy?

Mitsubishi Electric Co. (OTCMKTS:MIELF) shares gapped up before the market opened on Wednesday . The stock had previously closed at $39.1980, but opened at $42.16. Mitsubishi Electric shares last traded at $42.16, with a volume of 154 shares trading hands.

Mitsubishi Electric Stock Up 3.2%

The stock has a market cap of $94.48 billion, a P/E ratio of 46.81 and a beta of 0.63. The firm’s 50-day moving average is $35.87 and its two-hundred day moving average is $32.14.

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.