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

Makita Corp. (OTCMKTS:MKTAY) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 3,552 shares, a decrease of 52.3% from the April 15th total of 7,449 shares. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 29,506 shares, the days-to-cover ratio is presently 0.1 days.

Makita Stock Performance

Shares of OTCMKTS:MKTAY traded up $0.19 on Friday, hitting $35.70. 13,301 shares of the company’s stock were exchanged, compared to its average volume of 12,471. The firm’s 50-day moving average is $34.63 and its 200 day moving average is $33.10. The company has a market capitalization of $9.44 billion, a PE ratio of 17.94 and a beta of 0.66. Makita has a 1-year low of $26.76 and a 1-year high of $41.20.

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

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Makita from a “hold” rating to a “buy” rating in a research report on Saturday, January 31st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Makita currently has an average rating of “Sell”.

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.