Mitsubishi Electric (OTCMKTS:MIELY) Shares Gap Down - Time to Sell?

Mitsubishi Electric Co. (OTCMKTS:MIELY - Get Free Report) shares gapped down prior to trading on Thursday . The stock had previously closed at $84.28, but opened at $76.97. Mitsubishi Electric shares last traded at $78.8350, with a volume of 282,037 shares traded.Get Mitsubishi Electric alerts:Wall Street Analysts Forecast GrowthRockwell Automation Poised to Gain From U.S. Tariffs & OnshoringA number of analysts recently issued reports on MIELY shares. Zacks Research downgraded Mitsubishi Electric from a "strong-buy" rating to a "hold" rating in a research report on Monday. UBS Group upgraded Mitsubishi Electric from a "strong sell" rating to a "hold" rating in a research report on Monday, March 9th. Three research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Mitsubishi Electric currently has a consensus rating of "Hold".Read Our Latest Stock Report on Mitsubishi ElectricMitsubishi Electric Price PerformanceThe company has a market capitalization of $84.08 billion, a P/E ratio of 75.08 and a beta of 0.58. The business has a 50-day moving average of $71.61 and a 200-day moving average of $63.84. About Mitsubishi Electric (Get Free Report)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.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