MEI Stock Summary and Trading Ideas (Methode Electronics | NYSE:MEI)

Methode Electronics Inc makes component and subsystem devices employing electrical, radio remote control, electronic, wireless, and sensing technologies. The firm is organized in various business segments: Automotive, Industrial, interface and Medical. The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile. The Industrial segment manufactures external lighting solutions, industrial safety radio remote controls, braided flexible cables and custom power-product assemblies. The Interface segment provides a variety of copper and fiber-optic interface and interface solutions. The Medical segment is made up of the Company's medical device business, Dabir Surfaces, its surface support technology aimed at pressure injury prevention.

Methode Electronics trades on the NYSE stock market under the symbol MEI.

As of April 19, 2024, MEI stock price declined to $11.63 with 531,428 million shares trading.

MEI has a beta of 1.27, meaning it tends to be more sensitive to market movements. MEI has a correlation of 0.06 to the broad based SPY ETF.

MEI has a market cap of $411.59 million. This is considered a Small Cap stock.

Last quarter Methode Electronics reported $260 million in Revenue and -$.33 earnings per share. This fell short of revenue expectation by $-28 million and missed earnings estimates by -$.42.

In the last 3 years, MEI stock traded as high as $51.38 and as low as $11.21.

The top ETF exchange traded funds that MEI belongs to (by Net Assets): IJR, VTI, VB, IWM, VGT.

MEI has underperformed the market in the last year with a return of -71.7%, while the SPY ETF gained +21.2%. In the last 3 month period, MEI fell short of the market, returning -43.1%, while SPY returned +4.3%. However, in the most recent 2 weeks MEI has outperformed the stock market by returning -0.5%, while SPY returned -3.5%.

MEI support price is $11.95 and resistance is $12.65 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MEI stock will trade within this expected range on the day.