Smc Corporation (OTCMKTS:SMCAY) Stock Short Interest Drops 75.1%

Key Points

• Short interest fell 75.1%, declining from 125,646 shares on September 15 to 31,248 shares on September 30. Short interest now represents 0.0% of shares outstanding, with a short-interest ratio of 0.1 days.
• SMC shares opened at $23.17, above their 50-day and 200-day moving averages, while the company reported quarterly earnings of $0.33 per share and revenue of $1.70 billion—both exceeding analyst expectations.
• Analyst sentiment is mixed, with one Buy rating and two Hold ratings, resulting in a consensus Hold rating. SMC manufactures pneumatic and industrial automation equipment for industries including automotive, electronics and semiconductor production.

Smc Corporation (OTCMKTS:SMCAY - Get Free Report) saw a significant decrease in short interest in September. As of September 30th, there was short interest totaling 31,248 shares, a decrease of 75.1% from the September 15th total of 125,646 shares. Based on an average trading volume of 588,201 shares, the short-interest ratio is presently 0.1 days. Currently, 0.0% of the company's stock are sold short.

SMC Price Performance

Shares of SMC stock opened at $23.17 on Friday. The business has a fifty day simple moving average of $22.57 and a two-hundred day simple moving average of $22.10. SMC has a 1 year low of $15.86 and a 1 year high of $27.77. The company has a market capitalization of $29.60 billion, a price-to-earnings ratio of 22.50, a P/E/G ratio of 1.58 and a beta of 1.11.

SMC (OTCMKTS:SMCAY - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.10. SMC had a return on equity of 9.40% and a net margin of 21.94%. The business had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.54 billion. As a group, equities analysts anticipate that SMC will post 1.10 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SMCAY has been the topic of several research reports. Jefferies Financial Group raised shares of SMC from a "buy" rating to a "buy" rating in a research report on Tuesday, June 16th. Zacks Research cut SMC from a "strong-buy" rating to a "hold" rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold".

About SMC

SMC Corporation is a Japan-based manufacturer of pneumatic and industrial automation equipment. The company develops products used to control, move and regulate compressed air and other gases in manufacturing and process applications.

Its product portfolio includes pneumatic actuators, valves, air-preparation equipment, fittings, tubing, vacuum equipment, sensors and temperature-control systems. These products support factory automation and are used across industries such as automotive, electronics, semiconductor manufacturing, packaging, food processing and general industrial production.

Founded in Japan in 1959, SMC has expanded from its domestic base into an international business serving customers through subsidiaries, sales offices and distribution networks across Asia, Europe, North America and other regions.

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