Michelin (OTCMKTS:MGDDY – Get Free Report) saw a large growth in short interest in August. As of August 14th, there was short interest totaling 160,287 shares, a growth of 99.4% from the July 30th total of 80,387 shares. Based on an average daily trading volume, of 335,848 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the company’s shares are sold short.
Michelin Stock Performance
Shares of MGDDY stock traded up $0.19 during trading hours on Monday, reaching $20.25. 190,664 shares of the company’s stock were exchanged, compared to its average volume of 158,031. Michelin has a fifty-two week low of $14.82 and a fifty-two week high of $20.57. The stock’s 50 day moving average is $19.75 and its 200-day moving average is $18.85. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.90.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on the stock. Zacks Research raised shares of Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Michelin in a research report on Tuesday, July 28th. Finally, Citigroup reissued a “buy” rating on shares of Michelin in a research report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.
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.
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