Short-term stake in Canon Inc. (NYSE:CAJ) increases 76.6%

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Canon Inc. (NYSE: CAJGet a rating) saw strong growth in short-term interest in March. As of March 31, there was short interest totaling 1,580,000 shares, a growth of 76.6% from the March 15 total of 894,700 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 246,500 shares, the day-to-cover ratio is currently 6.4 days.

A number of equity research analysts have published reports on the stock. Zacks Investment Research downgraded Canon shares from a “buy” rating to a “hold” rating in a report on Thursday. StockNews.com upgraded Canon from a “buy” rating to a “strong buy” rating in a research note on Wednesday.

Shares of Action CAJ traded at $0.35 during Friday trading hours, hitting $24.13. 261,579 shares were traded, against an average volume of 200,396. The company’s fifty-day moving average is $23.90 and its two-hundred-day moving average is $23.80. Canon has a 12-month low of $21.00 and a 12-month high of $25.94. The company has a quick ratio of 1.16, a current ratio of 1.77 and a debt ratio of 0.06.

Cannon (NYSE: CAJGet a rating) last released its quarterly results on Thursday, January 27. The technology company reported EPS of $0.47 for the quarter, beating the consensus estimate of $0.46 by $0.01. Canon had a net margin of 6.10% and a return on equity of 6.94%. The company posted revenue of $7.71 billion in the quarter, compared to analysts’ expectations of $8.68 billion. On average, equity research analysts expect Canon to post EPS of 2.06 for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the company. Clark Capital Management Group Inc. acquired a new position in Canon in the third quarter worth approximately $32,723,000. CWM LLC acquired a new stake in Canon during the 4th quarter at a value of $8,018,000. Goldman Sachs Group Inc. increased its stake in Canon by 21.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,143,193 shares of the technology company worth $27,929,000 after acquiring 203,653 additional shares last quarter. LMR Partners LLP acquired a new stake in Canon during the 4th quarter at a value of $3,409,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Canon by 27.9% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 519,341 shares of the technology company worth $12,662,000 after acquiring an additional 113,315 shares in the last quarter.

Canon Company Profile (Get a rating)

Canon Inc, together with its subsidiaries, manufactures and sells office multifunction devices (MFDs), plain paper copiers, laser and inkjet printers, cameras, diagnostic equipment and lithography equipment. The Company operates through four segments: printing business unit, imaging business unit, medical business unit and industrial and other business unit.

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