PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Sees Large Decline in Short Interest

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) was the target of a large drop in short interest in the month of December. As of December 31st, there was short interest totaling 404 shares, a drop of 42.0% from the December 15th total of 696 shares. Based on an average daily trading volume, of 3,972 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 3,972 shares, the days-to-cover ratio is presently 0.1 days.

PT Indofood Sukses Makmur Tbk Stock Up 2.1%

Shares of PIFMY stock traded up $0.45 during trading hours on Friday, reaching $21.45. 1,436 shares of the stock were exchanged, compared to its average volume of 2,612. The business’s fifty day moving average is $21.10 and its two-hundred day moving average is $22.79. PT Indofood Sukses Makmur Tbk has a 12-month low of $19.41 and a 12-month high of $27.81.

About PT Indofood Sukses Makmur Tbk

PT Indofood Sukses Makmur Tbk is an Indonesian-based integrated food company and one of the world’s largest producers of instant noodles. Established in 1990 and headquartered in Jakarta, the company operates through several business segments including consumer branded products, flour milling, edible oils and fats, and agribusiness. Indofood is a member of the Salim Group and has grown through both organic expansion and strategic acquisitions to become a leading name in the regional food industry.

In its consumer branded products division, Indofood manufactures and markets a diverse portfolio that spans instant noodles, dairy products, snack foods, biscuits, confectionery, and flavored beverages.