Makita Co. (OTCMKTS:MKTAY) Sees Large Decrease in Short Interest

Makita Co. (OTCMKTS:MKTAY) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totalling 2,400 shares, a decrease of 17.2% from the June 30th total of 2,900 shares. Based on an average daily trading volume, of 166,800 shares, the days-to-cover ratio is currently 0.0 days.

Makita Price Performance

Shares of OTCMKTS MKTAY traded up $0.52 during mid-day trading on Monday, hitting $29.67. 11,688 shares of the stock traded hands, compared to its average volume of 14,846. The company has a market cap of $7.98 billion, a PE ratio of 26.26 and a beta of 0.77. Makita has a twelve month low of $23.38 and a twelve month high of $31.88. The firm has a 50 day simple moving average of $29.05 and a two-hundred day simple moving average of $27.99.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings results on Friday, April 26th. The company reported $0.28 EPS for the quarter. Makita had a return on equity of 5.12% and a net margin of 5.89%. The firm had revenue of $1.28 billion for the quarter. On average, equities research analysts anticipate that Makita will post 1.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

About Makita

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.