Tesco PLC (OTCMKTS:TSCDY) Short Interest Up 69.7% in July

Tesco PLC (OTCMKTS:TSCDY) saw a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 120,823 shares, an increase of 69.7% from the June 30th total of 71,185 shares. Based on an average trading volume of 467,926 shares, the short-interest ratio is currently 0.3 days. Currently, 0.0% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Several research analysts have commented on TSCDY shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Tesco in a research report on Monday, April 13th. Citigroup started coverage on Tesco in a research note on Tuesday, May 5th. They issued a “buy” rating on the stock. Morgan Stanley reissued an “overweight” rating on shares of Tesco in a report on Monday, July 6th. Finally, Erste Group Bank started coverage on Tesco in a research report on Tuesday, May 5th. They set a “buy” rating for the company. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Tesco has an average rating of “Moderate Buy”.

Tesco Price Performance

Shares of TSCDY stock opened at $19.87 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.39. The business’s 50-day moving average price is $18.67 and its 200-day moving average price is $18.82. Tesco has a 12 month low of $16.47 and a 12 month high of $20.54.

About Tesco

Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire. Founded in 1919 by Jack Cohen as a market stall, the company expanded into a nationwide chain of supermarkets and has grown into one of the largest retailers in the United Kingdom. Tesco operates a range of store formats designed to serve different customer needs, including large-format hypermarkets, standard supermarkets and smaller convenience stores, along with an extensive online grocery and home delivery service.

The company’s core activities include the retail sale of food and non-food products, development and distribution of own-label ranges (from value to premium), and provision of convenience and fuel forecourt services.