Short Interest in Makita Corp. (OTCMKTS:MKTAY) Declines By 86.7%

Key Points

• Short interest in Makita Corp. has significantly declined by 86.7% in September, dropping from 13,500 shares to only 1,800 shares.
• Wall Street analysts have upgraded Makita from a "hold" to a "buy" rating, with the average analyst consensus currently at a rating of "Buy."
• Makita's shares recently traded up 1.8%, reaching $32.23, with a market cap of approximately $8.67 billion.

Makita Corp. (OTCMKTS:MKTAY - Get Free Report) saw a large drop in short interest in September. As of September 30th, there was short interest totaling 1,800 shares, a drop of 86.7% from the September 15th total of 13,500 shares. Based on an average daily volume of 56,000 shares, the short-interest ratio is currently 0.0 days. Based on an average daily volume of 56,000 shares, the short-interest ratio is currently 0.0 days.

Wall Street Analyst Weigh In

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 given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy".

Makita Stock Up 1.8%

Shares of MKTAY traded up $0.59 during mid-day trading on Friday, reaching $32.23. The company's stock had a trading volume of 32,126 shares, compared to its average volume of 16,923. The company has a market cap of $8.67 billion, a price-to-earnings ratio of 15.64 and a beta of 0.59. The business has a fifty day moving average of $33.72 and a 200 day moving average of $31.45. Makita has a 1 year low of $25.56 and a 1 year high of $39.05.

Makita (OTCMKTS:MKTAY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.12. Makita had a return on equity of 9.00% and a net margin of 11.07%.The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $187.49 billion. On average, analysts predict that Makita will post 1.56 earnings per share for the current year.

About Makita

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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