Makita Co. (OTCMKTS:MKTAY) Sees Significant Decrease in Short Interest

Makita Co. (OTCMKTS:MKTAY) was the target of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 18,600 shares, a decline of 18.1% from the August 15th total of 22,700 shares. Based on an average trading volume of 12,600 shares, the short-interest ratio is currently 1.5 days.

Makita Price Performance

Shares of Makita stock opened at $32.33 on Tuesday. The stock has a market cap of $8.70 billion, a PE ratio of 28.61 and a beta of 0.76. The firm has a fifty day moving average price of $30.83 and a 200 day moving average price of $29.20. Makita has a 1 year low of $23.38 and a 1 year high of $34.85.

Makita (OTCMKTS:MKTAY) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.26 earnings per share for the quarter. The business had revenue of $1.18 billion during the quarter. Makita had a return on equity of 4.97% and a net margin of 5.89%. As a group, equities analysts expect that Makita will post 1.34 EPS for the current year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded shares of Makita from a “neutral” rating to a “buy” rating in a report on Monday, July 1st.

About Makita

Makita Corporation engages in the manufacture and sale of electric power tools, pneumatic tools, and gardening and household equipment in Japan, Europe, North America, Asia, Australia, Brazil, and the United Arab Emirates. It offers cordless, drilling/fastening, impact drilling/demolition, grinding/sanding, sawing, planning/routering, pneumatic, outdoor power, and dust extraction/other equipment, as well as accessories; and cutting equipment for new materials, masonry, and metals.