Short Interest in Makita Co. (OTCMKTS:MKTAY) Declines By 35.4%

Makita Co. (OTCMKTS:MKTAY - Get Free Report) was the target of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 14,600 shares, a drop of 35.4% from the September 15th total of 22,600 shares. Based on an average daily volume of 11,300 shares, the days-to-cover ratio is presently 1.3 days.

Makita Stock Performance

Shares of OTCMKTS MKTAY traded down $1.46 during mid-day trading on Friday, hitting $32.91. The stock had a trading volume of 2,394 shares, compared to its average volume of 13,169. The business has a 50 day moving average price of $32.37 and a two-hundred day moving average price of $30.12. Makita has a 1 year low of $23.38 and a 1 year high of $35.49. The firm has a market cap of $8.85 billion, a P/E ratio of 29.12 and a beta of 0.76.

Makita (OTCMKTS:MKTAY - Get Free Report) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.26 EPS for the quarter. The business had revenue of $1.18 billion during the quarter. Makita had a return on equity of 4.97% and a net margin of 5.89%. Equities research analysts predict that Makita will post 1.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Makita from a "neutral" rating to a "buy" rating in a report on Monday, July 1st.

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.