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

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

Makita Stock Performance

MKTAY traded up $0.06 during trading on Thursday, reaching $33.20. The company’s stock had a trading volume of 7,823 shares, compared to its average volume of 18,459. The company’s fifty day moving average price is $34.62 and its 200-day moving average price is $35.25. Makita has a 52-week low of $26.76 and a 52-week high of $41.20. The company has a market capitalization of $8.78 billion, a price-to-earnings ratio of 16.20 and a beta of 0.61.

Makita (OTCMKTS:MKTAY) last issued its earnings results on Wednesday, July 29th. The company reported $0.56 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.26 billion.

Makita Company Profile

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.