Makita Co. (OTCMKTS:MKTAY) Sees Significant Growth in Short Interest

Makita Co. (OTCMKTS:MKTAY) was the recipient of a significant increase in short interest in September. As of September 15th, there was short interest totalling 22,600 shares, an increase of 21.5% from the August 31st total of 18,600 shares. Based on an average trading volume of 22,200 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analysts Forecast Growth

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

Makita Price Performance

Shares of OTCMKTS:MKTAY traded down $0.32 during midday trading on Monday, hitting $33.78. 3,324 shares of the company’s stock were exchanged, compared to its average volume of 13,508. The stock has a 50 day moving average price of $31.65 and a 200-day moving average price of $29.69. The company has a market cap of $9.09 billion, a PE ratio of 30.18 and a beta of 0.76. Makita has a 12 month low of $23.38 and a 12 month high of $35.49.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.26 earnings per share (EPS) 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 anticipate that Makita will post 1.34 EPS for the current fiscal year.

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.