Smc Corporation (OTCMKTS:SMCAY) Stock Short Interest Rises 190.7%

Smc Corporation (OTCMKTS:SMCAY) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totaling 125,646 shares, a growth of 190.7% from the August 31st total of 43,223 shares. Based on an average trading volume of 731,400 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the company’s stock are short sold.

Analysts Set New Price Targets

SMCAY has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of SMC from a “buy” rating to a “buy” rating in a research note on Tuesday, June 16th. Zacks Research upgraded SMC from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy”.

SMC Stock Up 3.4%

SMCAY stock traded up $0.73 during trading on Friday, hitting $22.20. The company had a trading volume of 114,351 shares, compared to its average volume of 350,805. The firm has a 50-day moving average price of $22.24 and a 200-day moving average price of $21.95. The firm has a market cap of $28.36 billion, a PE ratio of 21.55, a price-to-earnings-growth ratio of 1.52 and a beta of 1.09. SMC has a 1-year low of $14.65 and a 1-year high of $27.77.

SMC (OTCMKTS:SMCAY) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.10. SMC had a return on equity of 9.40% and a net margin of 21.94%.The company had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Sell-side analysts anticipate that SMC will post 1.1 earnings per share for the current year.

About SMC

SMC Corporation is a Japan-based manufacturer of pneumatic and automation equipment used in factory automation and industrial production systems. Its products help control the movement, pressure, flow and handling of air and other fluids in manufacturing processes.

The company’s product portfolio includes pneumatic cylinders and actuators, control valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and related automation components. SMC also offers electric actuators and equipment for specialized applications, including process control, cleanroom manufacturing and material handling.

Founded in 1959 as Sintered Metal Corporation, the company adopted the name SMC Corporation in 1985.