Short Interest in Makita Corp. (OTCMKTS:MKTAY) Expands By 131.3%

Makita Corp. (OTCMKTS:MKTAY) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 45,372 shares, an increase of 131.3% from the June 15th total of 19,615 shares. Based on an average daily trading volume, of 34,883 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.0% of the shares of the company are short sold.

Makita Stock Up 1.2%

MKTAY traded up $0.41 during midday trading on Tuesday, hitting $34.72. 12,957 shares of the company traded hands, compared to its average volume of 17,869. The company’s 50-day moving average is $35.63 and its 200 day moving average is $34.77. Makita has a 52 week low of $26.76 and a 52 week high of $41.20. The firm has a market capitalization of $9.18 billion, a PE ratio of 17.45 and a beta of 0.61.

Makita (OTCMKTS:MKTAY) last issued its earnings results on Tuesday, April 28th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.09. The company had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Makita had a net margin of 10.21% and a return on equity of 8.14%.

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.