Smc Corporation (OTCMKTS:SMCAY) Sees Significant Drop in Short Interest

Smc Corporation (OTCMKTS:SMCAY) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 31,248 shares, a decline of 75.1% from the September 15th total of 125,646 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average trading volume of 588,201 shares, the days-to-cover ratio is presently 0.1 days.

SMC Stock Performance

Shares of SMCAY stock traded down $0.01 during mid-day trading on Tuesday, reaching $23.12. The company’s stock had a trading volume of 758,096 shares, compared to its average volume of 303,607. SMC has a 1-year low of $15.86 and a 1-year high of $27.77. The company has a market cap of $29.54 billion, a P/E ratio of 22.45, a PEG ratio of 1.58 and a beta of 1.11. The firm’s 50-day moving average is $22.59 and its two-hundred day moving average is $22.14.

SMC (OTCMKTS:SMCAY) last issued its earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.10. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.54 billion. SMC had a net margin of 21.94% and a return on equity of 9.40%. Sell-side analysts anticipate that SMC will post 1.10 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SMCAY. Zacks Research lowered shares of SMC from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a research report on Tuesday, June 16th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

SMC Company Profile

SMC Corporation is a Japan-based manufacturer of pneumatic and industrial automation equipment. The company develops products used to control, move and regulate compressed air and other gases in manufacturing and process applications.

Its product portfolio includes pneumatic actuators, valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and temperature-control systems. These products support factory automation and are used across industries such as automotive, electronics, semiconductor manufacturing, packaging, food processing and general industrial production.

Founded in Japan in 1959, SMC has expanded from its domestic base into an international business serving customers through subsidiaries, sales offices and distribution networks across Asia, Europe, North America and other regions.