Canon Inc. (NYSE:CAJ) Short Interest Update

Canon Inc. (NYSE:CAJGet Rating) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totalling 1,580,000 shares, an increase of 104.1% from the May 31st total of 774,100 shares. Based on an average trading volume of 283,000 shares, the short-interest ratio is currently 5.6 days. Approximately 0.2% of the company’s stock are sold short.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWM LLC bought a new position in shares of Canon during the 4th quarter worth about $8,018,000. Goldman Sachs Group Inc. lifted its holdings in shares of Canon by 21.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,143,193 shares of the technology company’s stock worth $27,929,000 after acquiring an additional 203,653 shares during the period. LMR Partners LLP bought a new position in shares of Canon during the 4th quarter worth about $3,409,000. Alan B. Lancz & Associates Inc. bought a new position in shares of Canon during the 4th quarter worth about $2,707,000. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Canon by 33.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 378,797 shares of the technology company’s stock worth $9,254,000 after acquiring an additional 95,097 shares during the period.

Separately, StockNews.com downgraded Canon from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 28th.

CAJ stock opened at $23.07 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.13 and a current ratio of 1.77. The company has a market cap of $24.13 billion, a price-to-earnings ratio of 12.82, a P/E/G ratio of 11.10 and a beta of 0.37. The business’s 50-day moving average is $24.20 and its two-hundred day moving average is $24.14. Canon has a fifty-two week low of $21.00 and a fifty-two week high of $25.77.

Canon (NYSE:CAJGet Rating) last posted its quarterly earnings results on Tuesday, April 26th. The technology company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.06). The company had revenue of $7.57 billion during the quarter, compared to analyst estimates of $8.20 billion. Canon had a return on equity of 6.83% and a net margin of 6.10%. Equities analysts predict that Canon will post 2.13 earnings per share for the current year.

About Canon (Get Rating)

Canon Inc, together with its subsidiaries, manufactures and sells office multifunction devices (MFDs), plain paper copying machines, 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 Others Business Unit.

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