Short Interest in Tesco PLC (OTCMKTS:TSCDY) Declines By 39.1%

Tesco PLC (OTCMKTS:TSCDY) was the recipient of a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 123,609 shares, a decrease of 39.1% from the August 15th total of 203,089 shares. Based on an average daily trading volume, of 1,357,842 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

TSCDY has been the topic of a number of analyst reports. Morgan Stanley restated an “overweight” rating on shares of Tesco in a report on Monday, July 6th. Erste Group Bank downgraded 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. According to MarketBeat.com, Tesco has an average rating of “Moderate Buy”.

Tesco Stock Performance

OTCMKTS:TSCDY opened at $19.35 on Friday. Tesco has a 52 week low of $16.65 and a 52 week high of $20.54. The firm has a 50-day moving average price of $19.12 and a two-hundred day moving average price of $18.96. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.47.

About Tesco

Tesco plc is a multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, England. The company operates supermarkets, convenience stores and online grocery services, offering food, household products, clothing and other everyday consumer goods.

Tesco serves customers primarily in the United Kingdom and also operates retail businesses in the Republic of Ireland, the Czech Republic, Hungary and Slovakia. Through Booker, its wholesale business, the company supplies groceries and other products to independent retailers, caterers and hospitality businesses.

The company traces its origins to 1919, when Jack Cohen began selling groceries from a market stall in London.