Michelin (OTCMKTS:MGDDY – Get Free Report) was the recipient of a significant increase in short interest in August. As of August 14th, there was short interest totaling 160,287 shares, an increase of 99.4% from the July 30th total of 80,387 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average trading volume of 335,848 shares, the days-to-cover ratio is currently 0.5 days.
Michelin Stock Performance
Shares of MGDDY opened at $20.06 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.90. The firm has a fifty day simple moving average of $19.75 and a 200 day simple moving average of $18.85. Michelin has a 12 month low of $14.82 and a 12 month high of $20.57.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on MGDDY shares. Zacks Research upgraded shares of 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 research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft restated 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 presently has an average rating of “Hold”.
Michelin Company Profile
Michelin (OTCMKTS: MGDDY) is a French multinational tire manufacturer founded in 1889 and headquartered in Clermont-Ferrand, France. Over more than a century the company has grown into one of the world’s leading tiremakers, serving passenger car, truck, motorcycle, bicycle, agricultural, construction and aviation markets. Michelin has a global footprint with manufacturing facilities, research centers and commercial operations across multiple regions to supply OEMs, replacement markets and large commercial fleets.
The company’s core business is the design, manufacture and sale of tires and related products.
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