Short Interest in Makita Co. (OTCMKTS:MKTAY) Drops By 79.3%

Makita Co. (OTCMKTS:MKTAY) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 5,000 shares, a decrease of 79.3% from the March 15th total of 24,200 shares. Based on an average trading volume of 21,600 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MKTAY. UBS Group upgraded shares of Makita from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 30th. Citigroup lowered Makita from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 7th.

Makita Stock Up 2.4 %

Shares of MKTAY traded up $0.66 during mid-day trading on Monday, hitting $27.88. 72,558 shares of the company’s stock were exchanged, compared to its average volume of 17,038. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 16.69 and a beta of 0.65. The firm has a fifty day moving average of $32.04 and a two-hundred day moving average of $31.36. Makita has a twelve month low of $25.56 and a twelve month high of $39.05.

Makita (OTCMKTS:MKTAY) last posted its earnings results on Wednesday, January 29th. The company reported $0.58 earnings per share for the quarter. Makita had a return on equity of 7.52% and a net margin of 9.09%. On average, equities analysts predict that Makita will post 1.56 earnings per share for the current year.

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.