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

Makita Corp. (OTCMKTS:MKTAY) was the target of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 3,378 shares, a drop of 83.2% from the July 30th total of 20,102 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 32,117 shares, the short-interest ratio is currently 0.1 days.

Makita Price Performance

MKTAY traded up $0.24 during trading on Friday, reaching $33.35. 3,987 shares of the company’s stock were exchanged, compared to its average volume of 18,400. The stock has a market capitalization of $8.82 billion, a P/E ratio of 16.27 and a beta of 0.61. The company’s fifty day simple moving average is $34.55 and its 200-day simple moving average is $35.21. Makita has a 1 year low of $26.76 and a 1 year high of $41.20.

Makita (OTCMKTS:MKTAY) last posted its earnings results on Wednesday, July 29th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Makita had a return on equity of 8.21% and a net margin of 10.40%.The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion.

About Makita

Makita Corporation (OTCMKTS:MKTAY) is a global manufacturer of professional and consumer power tools headquartered in Anj?, 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.