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

Makita Corp. (OTCMKTS:MKTAY) was the recipient of a large growth in short interest in June. As of June 30th, there was short interest totaling 45,372 shares, a growth of 131.3% from the June 15th total of 19,615 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 34,883 shares, the days-to-cover ratio is presently 1.3 days.

Makita Stock Performance

Shares of OTCMKTS MKTAY traded down $0.07 during trading on Thursday, reaching $34.89. The company had a trading volume of 4,919 shares, compared to its average volume of 18,187. Makita has a 52 week low of $26.76 and a 52 week high of $41.20. The business’s 50 day moving average price is $35.54 and its 200-day moving average price is $34.83. The stock has a market cap of $9.23 billion, a PE ratio of 17.53 and a beta of 0.61.

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

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.