Tesco PLC (OTCMKTS:TSCDY – Get Free Report) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totaling 123,609 shares, a decrease of 39.1% from the August 15th total of 203,089 shares. Based on an average daily trading volume, of 1,357,842 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are sold short.
Tesco Stock Performance
TSCDY traded down $0.12 during midday trading on Thursday, hitting $19.38. 5,307 shares of the company were exchanged, compared to its average volume of 431,965. The firm’s 50 day moving average price is $19.12 and its 200-day moving average price is $18.96. Tesco has a 1-year low of $16.65 and a 1-year high of $20.54. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.47.
Analysts Set New Price Targets
TSCDY has been the topic of a number of analyst reports. Morgan Stanley restated an “overweight” rating on shares of Tesco in a research report on Monday, July 6th. Erste Group Bank cut shares of Tesco from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Tesco presently has an average rating of “Moderate Buy”.
About Tesco
Tesco plc is a multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, England. The company operates supermarkets, convenience stores and online grocery services, offering food, household products, clothing and other everyday consumer goods.
Tesco serves customers primarily in the United Kingdom and also operates retail businesses in the Republic of Ireland, the Czech Republic, Hungary and Slovakia. Through Booker, its wholesale business, the company supplies groceries and other products to independent retailers, caterers and hospitality businesses.
The company traces its origins to 1919, when Jack Cohen began selling groceries from a market stall in London.
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