Canon Inc (NYSE:CAJ) was the recipient of a large decline in short interest in October. As of October 31st, there was short interest totalling 1,200,000 shares, a decline of 16.7% from the September 30th total of 1,440,000 shares. Based on an average daily volume of 310,400 shares, the short-interest ratio is presently 3.9 days. Approximately 0.1% of the company’s shares are sold short.
Several large investors have recently modified their holdings of CAJ. Cornerstone Advisors Inc. boosted its stake in shares of Canon by 29.0% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,026 shares of the technology company’s stock valued at $59,000 after buying an additional 455 shares during the period. Capital Investment Advisory Services LLC boosted its stake in shares of Canon by 1,466.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 7,830 shares of the technology company’s stock valued at $222,000 after buying an additional 7,330 shares during the period. Bailard Inc. acquired a new stake in shares of Canon during the 2nd quarter valued at $259,000. Whittier Trust Co. acquired a new stake in shares of Canon during the 3rd quarter valued at $262,000. Finally, Advisor Partners LLC boosted its stake in shares of Canon by 14.4% during the 2nd quarter. Advisor Partners LLC now owns 9,870 shares of the technology company’s stock valued at $289,000 after buying an additional 1,242 shares during the period. 1.26% of the stock is owned by institutional investors.
Several research firms have weighed in on CAJ. Goldman Sachs Group cut shares of Canon from a “neutral” rating to a “sell” rating in a research report on Friday, September 20th. Zacks Investment Research upgraded shares of Canon from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.
Shares of NYSE:CAJ traded up $0.16 during trading on Friday, reaching $27.80. 123,817 shares of the company traded hands, compared to its average volume of 320,890. The firm has a fifty day simple moving average of $27.04 and a 200 day simple moving average of $27.62. The firm has a market cap of $29.40 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 4.82 and a beta of 0.56. Canon has a 1-year low of $25.49 and a 1-year high of $30.12. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 0.16.
Canon Inc 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: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.
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