Short Interest in PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Grows By 52.3%

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 262 shares, a growth of 52.3% from the July 30th total of 172 shares. Based on an average daily trading volume, of 2,338 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Zacks Research downgraded PT Indofood Sukses Makmur Tbk from a “hold” rating to a “strong sell” rating in a research report on Friday, July 10th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, PT Indofood Sukses Makmur Tbk currently has a consensus rating of “Sell”.

PT Indofood Sukses Makmur Tbk Stock Performance

Shares of PIFMY opened at $21.11 on Tuesday. The stock has a fifty day moving average price of $19.70 and a 200 day moving average price of $19.62. PT Indofood Sukses Makmur Tbk has a 12 month low of $16.28 and a 12 month high of $24.45.

PT Indofood Sukses Makmur Tbk Company Profile

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.