Mitsubishi Electric (OTCMKTS:MIELF) Shares Down 7.6% – Here’s Why

Shares of Mitsubishi Electric Co. (OTCMKTS:MIELF) dropped 7.6% on Wednesday . The stock traded as low as $34.70 and last traded at $34.70. Approximately 183 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,613 shares. The stock had previously closed at $37.5535.

Mitsubishi Electric Trading Up 4.3%

The company has a market cap of $81.74 billion, a P/E ratio of 40.50 and a beta of 0.63. The firm has a 50-day moving average of $32.73 and a 200 day moving average of $28.68.

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.