Mitsubishi Electric (OTCMKTS:MIELF) Sets New 1-Year High - Here's Why

Shares of Mitsubishi Electric Co. (OTCMKTS:MIELF - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $40.50 and last traded at $40.50, with a volume of 385 shares. The stock had previously closed at $39.1980.Get Mitsubishi Electric alerts:Mitsubishi Electric Stock Up 7.2%The stock has a fifty day moving average of $35.74 and a two-hundred day moving average of $32.03. The stock has a market cap of $90.23 billion, a price-to-earnings ratio of 44.70 and a beta of 0.63. About Mitsubishi Electric (Get Free Report)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.Further ReadingFive stocks we like better than Mitsubishi ElectricThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Mitsubishi Electric Right Now?Before you consider Mitsubishi Electric, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mitsubishi Electric wasn't on the list.While Mitsubishi Electric currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here