Mitsubishi Electric (OTCMKTS:MIELY) Shares Gap Down – Should You Sell?

Mitsubishi Electric Co. (OTCMKTS:MIELY) shares gapped down before the market opened on Friday . The stock had previously closed at $67.36, but opened at $63.51. Mitsubishi Electric shares last traded at $65.18, with a volume of 12,848 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MIELY shares. UBS Group upgraded Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Zacks Research raised Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Mitsubishi Electric has an average rating of “Moderate Buy”.

Mitsubishi Electric Stock Down 4.4%

The stock’s 50 day moving average is $69.51 and its 200-day moving average is $60.47. The company has a market cap of $68.01 billion, a PE ratio of 60.73 and a beta of 0.52.

About Mitsubishi Electric

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.