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

Makita Corp. (OTCMKTS:MKTAY) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 5,853 shares, a growth of 73.3% from the August 15th total of 3,378 shares. Based on an average daily volume of 42,082 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are short sold.

Makita Stock Performance

OTCMKTS:MKTAY traded up $0.12 during mid-day trading on Wednesday, hitting $33.93. 7,607 shares of the company’s stock traded hands, compared to its average volume of 18,266. The company has a fifty day moving average of $33.88 and a 200 day moving average of $34.69. Makita has a twelve month low of $26.76 and a twelve month high of $41.20. The company has a market capitalization of $8.97 billion, a P/E ratio of 16.55 and a beta of 0.60.

Makita (OTCMKTS:MKTAY) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.05. Makita had a return on equity of 8.23% and a net margin of 10.40%.The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion.

About Makita

Makita Corporation is a Japanese manufacturer of professional power tools and related equipment. Founded in 1915, the company initially provided electric motor repair and sales services before expanding into the manufacture of power tools. Makita is headquartered in Anjo, Aichi, Japan.

The company’s product portfolio includes cordless and corded power tools such as drills, impact drivers, saws, grinders, sanders and planers. Makita also produces outdoor power equipment, including lawn mowers, trimmers, blowers and chainsaws, as well as pneumatic tools, accessories, batteries and chargers.

Makita serves construction, woodworking, landscaping, manufacturing and other professional markets.