Canon, Inc. (OTCMKTS:CAJPY) Sees Significant Increase in Short Interest

Key Points

• Short interest in Canon, Inc. rose significantly by 112.3% in August, reaching a total of 141,400 shares from 66,600 shares in July, indicating increased bearish sentiment among investors.
• Recent analyst ratings show a shift for Canon's stock, with Wall Street Zen downgrading it to a "hold" while Zacks Research upgraded it to a "hold," resulting in a consensus rating of "Hold" across the board.
• As of the latest trading day, Canon's stock was priced at $29.37, with a market capitalization of $29.01 billion and a P/E ratio of 23.50, reflecting its financial stability.

Canon, Inc. (OTCMKTS:CAJPY - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totaling 141,400 shares, agrowthof112.3% from the July 31st total of 66,600 shares. Based on an average daily trading volume, of 77,900 shares, the short-interest ratio is presently 1.8 days. Based on an average daily trading volume, of 77,900 shares, the short-interest ratio is presently 1.8 days.

Canon Stock Up 1.8%

OTCMKTS CAJPY traded up $0.52 on Friday, hitting $29.89. 30,203 shares of the company were exchanged, compared to its average volume of 49,828. The company has a market cap of $29.53 billion, a price-to-earnings ratio of 23.91 and a beta of 0.55. The company has a quick ratio of 0.96, a current ratio of 1.44 and a debt-to-equity ratio of 0.09. Canon has a 1-year low of $26.25 and a 1-year high of $35.52.

Analyst Ratings Changes

Several brokerages have recently commented on CAJPY. Wall Street Zen downgraded shares of Canon from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Zacks Research upgraded shares of Canon from a "strong sell" rating to a "hold" rating in a research note on Friday, August 15th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of "Hold".

Canon Company Profile

Canon Inc, together with its subsidiaries, manufactures and sells office multifunction devices (MFDs), plain paper copying machines, laser and inkjet printers, cameras, diagnostic equipment, and lithography equipment. The company operates through four segments: Printing Business Unit, Imaging Business Unit, Medical Business Unit, and Industrial and Others Business Unit.