Makita Corp. (OTCMKTS:MKTAY) Short Interest Up 269.1% in December

Makita Corp. (OTCMKTS:MKTAY) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 15,217 shares, an increase of 269.1% from the November 30th total of 4,123 shares. Based on an average daily volume of 46,488 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.0% of the company’s shares are short sold. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 46,488 shares, the days-to-cover ratio is currently 0.3 days.

Makita Stock Performance

Makita stock traded down $0.37 during mid-day trading on Thursday, reaching $30.52. The company’s stock had a trading volume of 16,059 shares, compared to its average volume of 18,966. Makita has a 12-month low of $25.56 and a 12-month high of $39.05. The company has a market capitalization of $8.21 billion, a P/E ratio of 15.18 and a beta of 0.52. The firm’s fifty day moving average price is $30.05 and its two-hundred day moving average price is $31.57.

Makita (OTCMKTS:MKTAY) last posted its earnings results on Friday, October 31st. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Makita had a return on equity of 8.53% and a net margin of 10.72%.The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.27 billion. On average, research analysts predict that Makita will post 1.56 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of Makita from a “buy” rating to a “hold” rating in a research note on Wednesday, November 19th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy”.

About Makita

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.