Michelin (OTCMKTS:MGDDY) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of Michelin (OTCMKTS:MGDDY) saw strong trading volume on Thursday . Approximately 344,247 shares traded hands during trading, an increase of 152% from the previous session’s volume of 136,577 shares.The stock last traded at $20.04 and had previously closed at $19.91.

Analyst Ratings Changes

MGDDY has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Michelin in a research report on Tuesday, July 28th. Zacks Research raised Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Citigroup restated a “buy” rating on shares of Michelin in a research report on Wednesday. Two analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Michelin currently has an average rating of “Hold”.

Michelin Price Performance

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 business has a 50 day simple moving average of $19.46 and a 200-day simple moving average of $18.74.

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.