Mitsubishi Electric (OTCMKTS:MIELY) Shares Gap Up – Time to Buy?

Mitsubishi Electric Co. (OTCMKTS:MIELY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $62.97, but opened at $66.5499. Mitsubishi Electric shares last traded at $64.3750, with a volume of 1,853 shares changing hands.

Mitsubishi Electric Stock Performance

The company has a fifty day simple moving average of $57.69 and a two-hundred day simple moving average of $52.00. The company has a market capitalization of $68.01 billion, a price-to-earnings ratio of 60.73 and a beta of 0.54.

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.