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

Makita Corp. (OTCMKTS:MKTAY) saw a significant increase in short interest in 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. Approximately 0.0% of the shares of the company are short sold. Based on an average trading volume of 46,488 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 46,488 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Makita Trading Down 1.4%

MKTAY traded down $0.44 during trading on Friday, hitting $30.08. The company’s stock had a trading volume of 9,977 shares, compared to its average volume of 18,951. 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 twelve month low of $25.56 and a twelve month high of $39.05. The business’s fifty day simple moving average is $29.99 and its 200 day simple moving average is $31.57.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut shares of Makita from a “buy” rating to a “hold” rating in a research note 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 stock. Based on data from MarketBeat.com, Makita 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.