Canon (CAJ) Sees Significant Decline in Short Interest

Canon (NYSE:CAJ) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totalling 284,404 shares, a decline of 43.3% from the April 13th total of 502,035 shares. Based on an average daily trading volume, of 366,988 shares, the short-interest ratio is presently 0.8 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of CAJ. Institutional & Family Asset Management LLC acquired a new position in Canon during the first quarter valued at $118,000. Baker Ellis Asset Management LLC acquired a new position in Canon during the fourth quarter valued at $123,000. FNY Partners Fund LP acquired a new position in Canon during the fourth quarter valued at $149,000. Brown Advisory Inc. acquired a new position in Canon during the fourth quarter valued at $207,000. Finally, Green Square Capital LLC acquired a new position in Canon during the fourth quarter valued at $207,000. Institutional investors own 1.56% of the company’s stock.

CAJ has been the subject of several research reports. ValuEngine upgraded shares of Canon from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Zacks Investment Research downgraded shares of Canon from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 6th.

NYSE CAJ opened at $34.22 on Friday. The firm has a market cap of $37.44 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.89 and a beta of 0.66. Canon has a 1 year low of $34.19 and a 1 year high of $34.34. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.00 and a quick ratio of 1.44.

About Canon

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 in four segments: Office Business Unit, Imaging System Business Unit, Medical System Business Unit, and Industry and Others Business Unit.

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