Mitsubishi Electric (OTCMKTS:MIELF) Shares Gap Up – Here’s What Happened

Mitsubishi Electric Co. (OTCMKTS:MIELF) gapped up prior to trading on Wednesday . The stock had previously closed at $33.48, but opened at $34.74. Mitsubishi Electric shares last traded at $34.74, with a volume of 414 shares traded.

Mitsubishi Electric Stock Up 4.6%

The stock has a market capitalization of $75.17 billion, a PE ratio of 37.24 and a beta of 0.63. The stock’s 50-day moving average is $34.75 and its 200 day moving average is $30.06.

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.