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

Makita Corp. (OTCMKTS:MKTAY) saw a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 20,102 shares, an increase of 200.0% from the July 15th total of 6,700 shares. Based on an average daily volume of 31,313 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.0% of the shares of the company are short sold.

Makita Price Performance

MKTAY stock traded down $0.31 during midday trading on Friday, hitting $33.94. 15,779 shares of the stock traded hands, compared to its average volume of 18,137. The stock’s fifty day simple moving average is $34.96 and its 200-day simple moving average is $35.30. Makita has a 1-year low of $26.76 and a 1-year high of $41.20. The firm has a market cap of $8.98 billion, a P/E ratio of 16.56 and a beta of 0.61.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.05. Makita had a return on equity of 8.21% and a net margin of 10.40%.The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion.

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.