Michelin (OTCMKTS:MGDDY) Short Interest Update

Michelin (OTCMKTS:MGDDY) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 80,925 shares, a drop of 49.5% from the August 15th total of 160,287 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 743,331 shares, the short-interest ratio is currently 0.1 days.

Michelin Stock Performance

Shares of OTCMKTS MGDDY traded down $0.20 during trading on Wednesday, hitting $18.80. The company had a trading volume of 246,681 shares, compared to its average volume of 161,620. Michelin has a 12 month low of $14.82 and a 12 month high of $20.57. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. The stock has a 50 day simple moving average of $19.86 and a 200 day simple moving average of $18.83.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MGDDY. Zacks Research raised shares of Michelin from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Citigroup restated a “buy” rating on shares of Michelin in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Michelin in a research report on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold”.

Michelin Company Profile

Michelin is a French multinational company that develops, manufactures and sells tires for passenger cars, commercial vehicles, motorcycles, bicycles, aircraft and specialized equipment. Its product portfolio serves consumer, professional and industrial customers, including applications in transportation, construction, agriculture and mining.

Founded in 1889 by brothers Édouard and André Michelin, the company has expanded from tire manufacturing into broader mobility-related products and services.