Short Interest in Makita Corp. (OTCMKTS:MKTAY) Rises By 269.1%

Makita Corp. (OTCMKTS:MKTAY) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totaling 15,217 shares, an increase of 269.1% from the November 30th total of 4,123 shares. Based on an average daily volume of 46,488 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.0% of the shares of the company are sold short. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 46,488 shares, the days-to-cover ratio is presently 0.3 days.

Makita Stock Down 1.4%

MKTAY traded down $0.44 during midday trading on Friday, reaching $30.08. 9,977 shares of the company’s stock were exchanged, compared to its average volume of 19,025. The business has a 50-day simple moving average of $30.03 and a two-hundred day simple moving average of $31.56. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 14.97 and a beta of 0.52. Makita has a one year low of $25.56 and a one year high of $39.05.

Makita (OTCMKTS:MKTAY) last issued its earnings results on Friday, October 31st. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Makita had a return on equity of 8.53% and a net margin of 10.72%. As a group, research analysts anticipate that Makita will post 1.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded Makita from a “buy” rating to a “hold” rating in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

About Makita

Makita Corporation (OTCMKTS:MKTAY) is a global manufacturer of professional and consumer power tools headquartered in Anjō, Aichi Prefecture, Japan. Founded in 1915 as an electric motor sales and repair company, it incorporated as Makita Electric Works, Ltd. in 1958 and has since expanded its product portfolio to serve both industrial and residential markets. The company’s core business activities encompass the design, production and distribution of power tools, outdoor power equipment and accessories.

Makita’s product lineup includes cordless and corded electric drills, drivers, saws, grinders, sanders and rotary hammers, as well as pneumatic and gasoline-powered machinery.