Mitsubishi Electric (OTCMKTS:MIELY) Reaches New 52-Week High – Here’s Why

Mitsubishi Electric Co. (OTCMKTS:MIELY)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $81.86 and last traded at $81.5072, with a volume of 43597 shares trading hands. The stock had previously closed at $75.8150.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Mitsubishi Electric from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, March 3rd. UBS Group upgraded shares of Mitsubishi Electric from a “strong sell” rating to a “hold” rating in a research note on Monday, March 9th. 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.com, Mitsubishi Electric has an average rating of “Moderate Buy”.

Mitsubishi Electric Stock Up 13.3%

The firm has a market cap of $90.76 billion, a PE ratio of 81.04 and a beta of 0.58. The firm’s fifty day simple moving average is $71.13 and its two-hundred day simple moving average is $63.45.

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.