Mitsubishi Electric (OTCMKTS:MIELY) Sees Unusually-High Trading Volume – Still a Buy?

Mitsubishi Electric Co. (OTCMKTS:MIELY) shares saw strong trading volume on Tuesday . 180,373 shares were traded during trading, an increase of 34% from the previous session’s volume of 134,996 shares.The stock last traded at $69.83 and had previously closed at $68.52.

Analysts Set New Price Targets

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

Mitsubishi Electric Stock Up 1.4%

The stock has a market cap of $73.40 billion, a price-to-earnings ratio of 65.54 and a beta of 0.52. The stock’s fifty day moving average is $68.63 and its 200-day moving average is $59.34.

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.