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

Makita Corp. (OTCMKTS:MKTAY) saw a significant decline in short interest in August. As of August 14th, there was short interest totaling 3,378 shares, a decline of 83.2% from the July 30th total of 20,102 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average trading volume of 32,117 shares, the short-interest ratio is presently 0.1 days.

Makita Stock Down 0.4%

Shares of MKTAY traded down $0.13 during mid-day trading on Wednesday, hitting $33.14. 7,691 shares of the company’s stock were exchanged, compared to its average volume of 18,483. The stock has a market cap of $8.77 billion, a price-to-earnings ratio of 16.17 and a beta of 0.61. The firm has a fifty day moving average of $34.69 and a two-hundred day moving average of $35.27. Makita has a twelve month low of $26.76 and a twelve month high of $41.20.

Makita (OTCMKTS:MKTAY) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. Makita had a net margin of 10.40% and a return on equity of 8.21%.

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.