Short Interest in Tesco PLC (OTCMKTS:TSCDY) Drops By 92.6%

Tesco PLC (OTCMKTS:TSCDY) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 29,800 shares, a decrease of 92.6% from the August 15th total of 404,700 shares. Based on an average daily trading volume, of 339,300 shares, the days-to-cover ratio is currently 0.1 days.

Shares of Tesco stock traded down $0.04 during mid-day trading on Wednesday, hitting $10.65. 133,065 shares of the stock were exchanged, compared to its average volume of 282,545. Tesco has a twelve month low of $9.06 and a twelve month high of $13.08. The stock has a market capitalization of $27.45 billion, a price-to-earnings ratio of 40.96, a price-to-earnings-growth ratio of 0.51 and a beta of 0.66. The company has a 50-day simple moving average of $10.11 and a 200 day simple moving average of $9.69. The company has a current ratio of 0.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.50.

A number of brokerages have commented on TSCDY. Zacks Investment Research upgraded shares of Tesco from a “sell” rating to a “hold” rating in a research report on Tuesday, August 31st. Barclays reiterated an “overweight” rating on shares of Tesco in a report on Wednesday, September 1st. Sanford C. Bernstein started coverage on shares of Tesco in a report on Wednesday, July 7th. They issued an “outperform” rating for the company. Finally, UBS Group reiterated a “buy” rating on shares of Tesco in a report on Friday, August 27th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Tesco presently has an average rating of “Buy”.

About Tesco

Tesco Plc engages in the retailing and retail banking. It operates through the following segments: UK and ROI, Central Europe, Asia, and Tesco Bank. The UK and ROI segment caters to the United Kingdom and Republic of Ireland. The Central Europe segment covers the Czech Republic, Hungary, Poland, and Slovakia.

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