Makita Co. (OTCMKTS:MKTAY) Short Interest Down 18.1% in August

Makita Co. (OTCMKTS:MKTAY) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 18,600 shares, a drop of 18.1% from the August 15th total of 22,700 shares. Based on an average daily volume of 12,600 shares, the days-to-cover ratio is currently 1.5 days.

Makita Price Performance

Shares of MKTAY opened at $32.17 on Monday. The firm has a 50 day simple moving average of $30.83 and a two-hundred day simple moving average of $29.20. The company has a market cap of $8.65 billion, a P/E ratio of 28.47 and a beta of 0.76. Makita has a one year low of $23.38 and a one year high of $34.85.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.26 earnings per share for the quarter. The business had revenue of $1.18 billion during the quarter. Makita had a return on equity of 4.97% and a net margin of 5.89%. On average, analysts expect that Makita will post 1.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of Makita from a “neutral” rating to a “buy” rating in a research report on Monday, July 1st.

Makita Company Profile

Makita Corporation engages in the manufacture and sale of electric power tools, pneumatic tools, and gardening and household equipment in Japan, Europe, North America, Asia, Australia, Brazil, and the United Arab Emirates. It offers cordless, drilling/fastening, impact drilling/demolition, grinding/sanding, sawing, planning/routering, pneumatic, outdoor power, and dust extraction/other equipment, as well as accessories; and cutting equipment for new materials, masonry, and metals.