Michelin (OTCMKTS:MGDDY) Stock Short Interest Falls 61.2%

Michelin (OTCMKTS:MGDDY) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 100,303 shares, a drop of 61.2% from the September 30th total of 258,821 shares. Approximately 0.0% of the company’s stock are sold short. Based on an average daily volume of 253,334 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

MGDDY has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Michelin in a research note on Tuesday, July 28th. Citigroup reaffirmed a “buy” rating on shares of Michelin in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Michelin Trading Down 1.0%

Shares of MGDDY traded down $0.17 during midday trading on Friday, hitting $17.71. The stock had a trading volume of 149,096 shares, compared to its average volume of 168,856. The company has a 50 day simple moving average of $19.02 and a two-hundred day simple moving average of $18.81. Michelin has a twelve month low of $15.35 and a twelve month high of $20.57. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.65.

About Michelin

Michelin is a France-based global manufacturer best known for designing, producing and distributing tires. Its products serve passenger cars, motorcycles, trucks, buses, aircraft, agricultural equipment, mining vehicles, construction machinery and other specialized applications. The company also provides tire-related services, fleet solutions and digital tools intended to support mobility, safety and operational efficiency.

Founded in 1889 by brothers André and Édouard Michelin in Clermont-Ferrand, France, Michelin has expanded from a regional tire maker into an international mobility company.