Michelin (OTCMKTS:MGDDY) Sees Large Decline in Short Interest

Michelin (OTCMKTS:MGDDY) was the recipient of a large decrease in short interest in September. As of September 15th, there was short interest totaling 51,911 shares, a decrease of 35.9% from the August 31st total of 80,925 shares. Based on an average daily volume of 378,079 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Michelin Stock Performance

Shares of MGDDY stock opened at $18.99 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04. Michelin has a fifty-two week low of $14.82 and a fifty-two week high of $20.57. The stock has a 50 day moving average price of $19.71 and a two-hundred day moving average price of $18.87.

Analyst Ratings Changes

Several brokerages have issued reports on MGDDY. Zacks Research raised Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Citigroup restated a “buy” rating on shares of Michelin in a 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 research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Michelin currently has an average rating of “Hold”.

Michelin Company Profile

Michelin is a France-based manufacturer best known for designing, producing and distributing tires. The company serves passenger vehicles, motorcycles, trucks, buses, aircraft, agricultural equipment, mining vehicles and other industrial applications. It also develops related products and services, including connected tire technologies, fleet solutions and mobility services.

Founded in 1889 by brothers Édouard and André Michelin, the company is headquartered in Clermont-Ferrand, France.