Short Interest in Smc Corporation (OTCMKTS:SMCAY) Declines By 68.7%

Smc Corporation (OTCMKTS:SMCAY) was the recipient of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 29,236 shares, a decline of 68.7% from the July 30th total of 93,496 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 983,018 shares, the days-to-cover ratio is presently 0.0 days.

SMC Stock Performance

OTCMKTS:SMCAY opened at $22.25 on Friday. The stock has a fifty day moving average price of $22.60 and a two-hundred day moving average price of $22.18. The stock has a market capitalization of $28.42 billion, a price-to-earnings ratio of 21.60, a PEG ratio of 1.52 and a beta of 1.10. SMC has a 1 year low of $14.31 and a 1 year high of $27.77.

SMC (OTCMKTS:SMCAY) last released its quarterly earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. The business had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.54 billion. SMC had a return on equity of 9.40% and a net margin of 21.94%. On average, analysts predict that SMC will post 1.1 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SMCAY. Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a report on Tuesday, June 16th. The Goldman Sachs Group cut shares of SMC from a “strong-buy” rating to a “neutral” rating in a report on Thursday, May 28th. Finally, Zacks Research upgraded SMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy”.

SMC Company Profile

SMC Corporation manufactures, processes, and sells automatic control equipment, sintered filters, and various types of filtration equipment worldwide. The company offers air management system, directional control valves, air cylinders, rotatory actuators/air grippers, electric actuators/cylinders, fitting and tubing, and modular F.R.L./pressure control equipment, as well as vacuum, air preparation, and lubrication equipment. It also provides flow control equipment, speed controllers, silencers/exhaust/blow guns/pressure gauges, switches/sensors/controllers, static neutralization equipment, and industrial device communication equipment/wireless system.