Canon Inc (NYSE:CAJ) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 288,438 shares, a drop of 64.2% from the January 12th total of 805,396 shares. Based on an average daily trading volume, of 247,863 shares, the days-to-cover ratio is currently 1.2 days.
A number of equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of Canon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Zacks Investment Research upgraded shares of Canon from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a report on Tuesday, January 16th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $44.00.
Shares of Canon (NYSE:CAJ) opened at $37.55 on Friday. Canon has a twelve month low of $29.05 and a twelve month high of $40.67. The firm has a market cap of $49,560.00, a PE ratio of 17.97, a P/E/G ratio of 2.04 and a beta of 0.60. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.16.
Large investors have recently bought and sold shares of the company. Baker Ellis Asset Management LLC bought a new stake in shares of Canon in the 4th quarter valued at about $123,000. FNY Partners Fund LP bought a new stake in shares of Canon in the 4th quarter valued at about $149,000. Advisor Group Inc. raised its holdings in shares of Canon by 5.4% in the 2nd quarter. Advisor Group Inc. now owns 5,159 shares of the technology company’s stock valued at $175,000 after purchasing an additional 263 shares in the last quarter. Brown Advisory Inc. bought a new stake in shares of Canon in the 4th quarter valued at about $207,000. Finally, Green Square Capital LLC bought a new stake in shares of Canon in the 4th quarter valued at about $207,000. Institutional investors and hedge funds own 1.29% of the company’s stock.
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Canon Company Profile
Canon Inc (Canon) is a manufacturer of office multifunction devices (MFDs), plain paper copying machines, laser printers, inkjet printers, cameras and lithography equipment. Canon sells its products principally under the Canon brand name and through sales subsidiaries. Each of these subsidiaries is responsible for marketing and distribution to retail dealers in an assigned territory.
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