Short Interest in Smc Corporation (OTCMKTS:SMCAY) Grows By 1,056.6%

Key Points

• Short interest in SMC Corporation has surged by 1,056.6% in September, reaching 175,800 shares from just 15,200 shares earlier in the month.
• The company's stock traded down 1.4%, closing at $17.00, and has experienced a one-year price range between $14.30 and $22.99.
• SMC's recent quarterly earnings report showed an EPS of $0.19, missing expectations, and led to a downgrade from "hold" to "strong sell" by Zacks Research.

Smc Corporation (OTCMKTS:SMCAY - Get Free Report) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 175,800 shares, a growth of 1,056.6% from the September 15th total of 15,200 shares. Based on an average daily trading volume, of 2,170,000 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 2,170,000 shares, the days-to-cover ratio is presently 0.1 days.

SMC Trading Down 1.4%

SMCAY stock traded down $0.25 on Thursday, hitting $17.00. The company's stock had a trading volume of 924,640 shares, compared to its average volume of 582,314. The firm has a 50 day moving average of $15.79 and a two-hundred day moving average of $16.83. SMC has a 1 year low of $14.30 and a 1 year high of $22.99. The stock has a market cap of $21.72 billion, a price-to-earnings ratio of 22.67, a price-to-earnings-growth ratio of 3.90 and a beta of 1.03.

SMC (OTCMKTS:SMCAY - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.03). The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $202.86 billion. SMC had a net margin of 18.00% and a return on equity of 7.31%. As a group, equities analysts forecast that SMC will post 0.79 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Zacks Research downgraded shares of SMC from a "hold" rating to a "strong sell" rating in a research report on Friday, September 19th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of "Sell".

About SMC

SMC Corporation manufactures, processes, and sells automatic control equipment, sintered filters, and various types of filtration equipment worldwide. The company offers air management system, directional control valves, air cylinders, rotatory actuators/air grippers, electric actuators/cylinders, fitting and tubing, and modular F.R.L./pressure control equipment, as well as vacuum, air preparation, and lubrication equipment.

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