Makita Corp. (OTCMKTS:MKTAY) Short Interest Update

Key Points

• Makita Corp. experienced a significant 52.6% drop in short interest in August, with only 14,400 shares sold short by the end of the month.
• The company's recent quarterly earnings exceeded expectations, reporting $0.50 earnings per share against a consensus estimate of $0.38, alongside a net revenue of $1.26 billion.
• Analyst ratings have improved, with Wall Street Zen upgrading Makita from a "hold" to a "buy" rating, reflecting positive sentiment among analysts.

Makita Corp. (OTCMKTS:MKTAY - Get Free Report) saw a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 14,400 shares, a drop of 52.6% from the August 15th total of 30,400 shares. Approximately 0.0% of the company's shares are sold short. Based on an average daily trading volume, of 14,300 shares, the days-to-cover ratio is currently 1.0 days. Based on an average daily trading volume, of 14,300 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.0% of the company's shares are sold short.

Makita Price Performance

Shares of MKTAY stock opened at $34.24 on Friday. Makita has a 1-year low of $25.56 and a 1-year high of $39.05. The stock's 50-day moving average is $33.18 and its 200 day moving average is $31.80. The company has a market cap of $9.21 billion, a P/E ratio of 16.62 and a beta of 0.57.

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

Analyst Ratings Changes

Separately, Wall Street Zen upgraded Makita from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy".

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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