Short Interest in Makita Corp. (OTCMKTS:MKTAY) Rises By 399.4%

Makita Corp. (OTCMKTS:MKTAY) was the recipient of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 17,737 shares, an increase of 399.4% from the April 30th total of 3,552 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 19,082 shares, the days-to-cover ratio is currently 0.9 days.

Makita Trading Up 1.9%

Shares of OTCMKTS:MKTAY traded up $0.66 on Thursday, reaching $35.97. 7,489 shares of the company’s stock were exchanged, compared to its average volume of 17,702. The company has a fifty day moving average of $34.85 and a 200-day moving average of $33.38. Makita has a twelve month low of $26.76 and a twelve month high of $41.20. The company has a market capitalization of $9.51 billion, a price-to-earnings ratio of 18.08 and a beta of 0.66.

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

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Makita from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

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.