Makita Corp. (OTCMKTS:MKTAY) Short Interest Up 322.2% in August

Key Points

• Short interest in Makita Corp. rose by 322.2% in August, with a total of 30,400 shares shorted, reflecting a significant increase from the previous month.
• Analysts upgraded Makita's rating from "hold" to "buy", with one analyst issuing a "Strong Buy" rating, contributing to an overall average rating of "Buy".
• Makita reported an earnings per share (EPS) of $0.50 for the last quarter, surpassing estimates, with a revenue of $1.26 billion compared to a consensus of $1.87 billion.

Makita Corp. (OTCMKTS:MKTAY - Get Free Report) was the recipient of a significant increase in short interest during the month of August. As of August 15th, there was short interest totaling 30,400 shares, anincreaseof322.2% from the July 31st total of 7,200 shares. Based on an average daily trading volume, of 21,600 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 21,600 shares, the days-to-cover ratio is currently 1.4 days.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded shares of Makita from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy".

Makita Price Performance

Shares of MKTAY stock traded down $0.49 on Wednesday, hitting $33.76. 1,933 shares of the stock traded hands, compared to its average volume of 16,994. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of 16.39 and a beta of 0.57. Makita has a 52 week low of $25.56 and a 52 week high of $39.05. The firm has a 50 day simple moving average of $32.62 and a two-hundred day simple moving average of $31.64.

Makita (OTCMKTS:MKTAY - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.38 by $0.12. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $187.49 billion. Makita had a net margin of 11.07% and a return on equity of 9.11%. Sell-side analysts forecast that Makita will post 1.56 EPS for the current year.

Makita Company Profile

Makita Corporation engages in the manufacture and sale of electric power tools, pneumatic tools, and gardening and household equipment in Japan, Europe, North America, Asia, Australia, Brazil, and the United Arab Emirates. It offers cordless, drilling/fastening, impact drilling/demolition, grinding/sanding, sawing, planning/routering, pneumatic, outdoor power, and dust extraction/other equipment, as well as accessories; and cutting equipment for new materials, masonry, and metals.

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