Michelin (OTCMKTS:MGDDY – Get Free Report) was the recipient of a significant decline in short interest in the month of July. As of July 15th, there was short interest totaling 78,065 shares, a decline of 43.8% from the June 30th total of 138,855 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 193,085 shares, the short-interest ratio is currently 0.4 days.
Michelin Stock Performance
Shares of Michelin stock traded up $0.20 during trading on Wednesday, reaching $19.77. 72,657 shares of the stock traded hands, compared to its average volume of 139,117. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04. Michelin has a 52-week low of $14.82 and a 52-week high of $20.48. The business has a fifty day simple moving average of $19.06 and a two-hundred day simple moving average of $18.57.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the company. Barclays upgraded Michelin from an “underweight” rating to an “equal weight” rating in a report on Tuesday, April 14th. Zacks Research upgraded Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Michelin in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold”.
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.
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