Michelin (OTCMKTS:MGDDY – Get Free Report) was the target of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 160,287 shares, an increase of 99.4% from the July 30th total of 80,387 shares. Based on an average trading volume of 335,848 shares, the short-interest ratio is currently 0.5 days. Approximately 0.0% of the shares of the company are short sold.
Michelin Trading Up 0.7%
Shares of Michelin stock opened at $20.21 on Tuesday. Michelin has a 12-month low of $14.82 and a 12-month high of $20.57. The company has a 50-day simple moving average of $19.78 and a 200 day simple moving average of $18.85. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04.
Wall Street Analyst Weigh In
Several research firms recently commented on MGDDY. Zacks Research upgraded shares of Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Michelin in a research report on Tuesday, July 28th. Finally, Citigroup reaffirmed a “buy” rating on shares of Michelin in a research report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold”.
About Michelin
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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