Mitsubishi Electric (OTCMKTS:MIELF) Shares Up 8.8% – Here’s What Happened

Mitsubishi Electric Co. (OTCMKTS:MIELF) shares were up 8.8% on Wednesday . The stock traded as high as $41.9375 and last traded at $41.9375. Approximately 128 shares traded hands during trading, a decline of 99% from the average daily volume of 13,445 shares. The stock had previously closed at $38.5450.

Mitsubishi Electric Stock Up 8.8%

The company has a 50-day moving average price of $37.16 and a two-hundred day moving average price of $33.80. The stock has a market capitalization of $90.05 billion, a P/E ratio of 44.61 and a beta of 0.63.

About Mitsubishi Electric

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.