Tesco PLC (OTCMKTS:TSCDY) Shares Shorted: Short Interest Up 224.6% in September

Tesco PLC (OTCMKTS:TSCDY) saw a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 224,863 shares, an increase of 224.6% from the September 15th total of 69,284 shares. Based on an average trading volume of 649,777 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the shares of the company are short sold.

Tesco Price Performance

Shares of TSCDY opened at $20.66 on Wednesday. The business’s 50-day moving average is $19.07 and its two-hundred day moving average is $18.99. The company has a quick ratio of 0.39, a current ratio of 0.59 and a debt-to-equity ratio of 0.47. Tesco has a fifty-two week low of $16.65 and a fifty-two week high of $20.66.

Analysts Set New Price Targets

TSCDY has been the topic of a number of research reports. Morgan Stanley reissued an “overweight” rating on shares of Tesco in a report on Monday, July 6th. Erste Group Bank cut Tesco from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Tesco

Tesco plc is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, England. The company serves customers through supermarkets, superstores, convenience stores and online grocery channels, offering food, household products, clothing, health and beauty items, and other general merchandise. Tesco also operates fuel stations and provides selected financial and mobile services through associated businesses and partnerships.

Tesco’s operations are concentrated in the United Kingdom and the Republic of Ireland, with additional stores in the Czech Republic, Hungary and Slovakia.