Michelin (OTCMKTS:MGDDY) Sees Large Volume Increase – Here’s What Happened

Michelin (OTCMKTS:MGDDY) saw unusually-strong trading volume on Monday. Approximately 354,330 shares changed hands during trading, an increase of 118% from the previous session’s volume of 162,605 shares. The stock last traded at $19.3253 and had previously closed at $19.31.

Analysts Set New Price Targets

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

Michelin Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.22. The business has a fifty day simple moving average of $19.76 and a two-hundred day simple moving average of $18.84.

About Michelin

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.