Short Interest in Michelin (OTCMKTS:MGDDY) Declines By 43.6%

Michelin (OTCMKTS:MGDDY) was the recipient of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 96,684 shares, a drop of 43.6% from the May 14th total of 171,425 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily volume of 262,555 shares, the days-to-cover ratio is currently 0.4 days.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MGDDY shares. Barclays upgraded Michelin from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, April 14th. Zacks Research downgraded Michelin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Michelin has an average rating of “Hold”.

Michelin Stock Up 1.0%

Shares of MGDDY opened at $19.11 on Friday. Michelin has a 1 year low of $14.82 and a 1 year high of $20.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.90. The business has a 50-day moving average of $18.26 and a 200-day moving average of $17.87.

About Michelin

Michelin (OTCMKTS: MGDDY) is a French multinational tire manufacturer founded in 1889 and headquartered in Clermont-Ferrand, France. Over more than a century the company has grown into one of the world’s leading tiremakers, serving passenger car, truck, motorcycle, bicycle, agricultural, construction and aviation markets. Michelin has a global footprint with manufacturing facilities, research centers and commercial operations across multiple regions to supply OEMs, replacement markets and large commercial fleets.

The company’s core business is the design, manufacture and sale of tires and related products.