Short Interest in Makita Corp. (OTCMKTS:MKTAY) Rises By 399.4%

Makita Corp. (OTCMKTS:MKTAY) saw a significant growth in short interest during the month of May. As of May 15th, there was short interest totaling 17,737 shares, a growth of 399.4% from the April 30th total of 3,552 shares. Based on an average trading volume of 19,082 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.0% of the company’s shares are short sold.

Makita Trading Down 3.1%

OTCMKTS MKTAY traded down $1.09 during trading hours on Friday, hitting $34.57. 15,550 shares of the company’s stock were exchanged, compared to its average volume of 13,254. The stock has a 50-day simple moving average of $34.90 and a 200 day simple moving average of $33.44. Makita has a 1-year low of $26.76 and a 1-year high of $41.20. The firm has a market cap of $9.14 billion, a price-to-earnings ratio of 17.37 and a beta of 0.66.

Makita (OTCMKTS:MKTAY) last released its earnings results on Tuesday, April 28th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.44 by $0.09. Makita had a return on equity of 8.14% and a net margin of 10.21%.The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.26 billion.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Makita from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Makita has an average rating of “Sell”.

Makita Company Profile

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.