Short Interest in Makita Corp. (OTCMKTS:MKTAY) Expands By 73.3%

Makita Corp. (OTCMKTS:MKTAY) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 5,853 shares, an increase of 73.3% from the August 15th total of 3,378 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 42,082 shares, the days-to-cover ratio is currently 0.1 days.

Makita Stock Performance

OTCMKTS:MKTAY traded up $0.53 during trading hours on Thursday, hitting $34.45. The stock had a trading volume of 5,375 shares, compared to its average volume of 18,188. The business’s 50 day moving average is $33.86 and its 200-day moving average is $34.66. The company has a market cap of $9.11 billion, a price-to-earnings ratio of 16.81 and a beta of 0.60. Makita has a one year low of $26.76 and a one year high of $41.20.

Makita (OTCMKTS:MKTAY) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. Makita had a net margin of 10.40% and a return on equity of 8.23%.

About Makita

Makita Corporation is a Japanese manufacturer of professional power tools and related equipment. Founded in 1915, the company initially provided electric motor repair and sales services before expanding into the manufacture of power tools. Makita is headquartered in Anjo, Aichi, Japan.

The company’s product portfolio includes cordless and corded power tools such as drills, impact drivers, saws, grinders, sanders and planers. Makita also produces outdoor power equipment, including lawn mowers, trimmers, blowers and chainsaws, as well as pneumatic tools, accessories, batteries and chargers.

Makita serves construction, woodworking, landscaping, manufacturing and other professional markets.