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

Makita Corp. (OTCMKTS:MKTAY) was the recipient of a large decline in short interest in the month of April. As of April 30th, there was short interest totaling 3,552 shares, a decline of 52.3% from the April 15th total of 7,449 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 29,506 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, Wall Street Zen raised Makita from a “hold” rating to a “buy” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Makita Stock Performance

Shares of MKTAY stock traded up $0.22 during mid-day trading on Friday, hitting $35.73. The company’s stock had a trading volume of 11,707 shares, compared to its average volume of 17,564. The company’s fifty day simple moving average is $34.65 and its 200-day simple moving average is $33.08. Makita has a 52 week low of $26.76 and a 52 week high of $41.20. The company has a market cap of $9.45 billion, a PE ratio of 17.95 and a beta of 0.66.

Makita (OTCMKTS:MKTAY) last posted its quarterly earnings data on Tuesday, April 28th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.09. Makita had a return on equity of 8.14% and a net margin of 10.21%.The firm had revenue of $1.31 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.