Canon Inc (NYSE:CAJ) Short Interest Update

Canon Inc (NYSE:CAJ) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 1,440,000 shares, an increase of 18.0% from the September 30th total of 1,220,000 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average trading volume of 303,500 shares, the short-interest ratio is currently 4.7 days.

Shares of CAJ traded up $0.09 during trading on Tuesday, reaching $27.74. 185,092 shares of the company traded hands, compared to its average volume of 285,569. Canon has a twelve month low of $25.49 and a twelve month high of $30.12. The stock has a market cap of $29.35 billion, a PE ratio of 13.02, a price-to-earnings-growth ratio of 4.46 and a beta of 0.56. The stock has a 50-day simple moving average of $26.97 and a 200-day simple moving average of $27.62. The company has a quick ratio of 1.18, a current ratio of 1.77 and a debt-to-equity ratio of 0.16.

A number of equities research analysts have weighed in on CAJ shares. Zacks Investment Research upgraded shares of Canon from a “sell” rating to a “hold” rating in a research report on Monday. Goldman Sachs Group cut shares of Canon from a “neutral” rating to a “sell” rating in a research report on Friday, September 20th.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC increased its position in shares of Canon by 5.8% during the second quarter. Renaissance Technologies LLC now owns 2,328,600 shares of the technology company’s stock valued at $68,158,000 after acquiring an additional 126,705 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Canon by 7.0% during the second quarter. Parametric Portfolio Associates LLC now owns 1,564,825 shares of the technology company’s stock valued at $45,802,000 after acquiring an additional 103,041 shares during the last quarter. First Trust Advisors LP increased its position in shares of Canon by 34.6% during the third quarter. First Trust Advisors LP now owns 1,517,397 shares of the technology company’s stock valued at $40,514,000 after acquiring an additional 390,348 shares during the last quarter. LSV Asset Management increased its position in shares of Canon by 24.2% during the second quarter. LSV Asset Management now owns 1,032,700 shares of the technology company’s stock valued at $30,227,000 after acquiring an additional 201,400 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Canon by 6.4% during the second quarter. Northern Trust Corp now owns 1,032,034 shares of the technology company’s stock valued at $30,207,000 after acquiring an additional 62,062 shares during the last quarter. Institutional investors and hedge funds own 1.26% of the company’s stock.

Canon Company Profile

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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