Michelin (OTCMKTS:MGDDY) Stock Price Down 4.1% – Here’s Why

Michelin (OTCMKTS:MGDDY) shares traded down 4.1% during trading on Monday. The company traded as low as $18.37 and last traded at $18.37. 4,227 shares changed hands during trading, a decline of 97% from the average daily volume of 162,630 shares. The stock had previously closed at $19.16.

Analyst Upgrades and Downgrades

MGDDY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Michelin in a research note on Tuesday, July 28th. Citigroup restated a “buy” rating on shares of Michelin in a research note on Wednesday, August 12th. Finally, Zacks Research upgraded Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold”.

Michelin Stock Performance

The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.02 and a current ratio of 1.65. The stock’s 50 day simple moving average is $19.40 and its two-hundred day simple moving average is $19.05.

Michelin Company Profile

Michelin is a France-based global manufacturer best known for designing, producing and distributing tires. Its products serve passenger cars, motorcycles, trucks, buses, aircraft, agricultural equipment, mining vehicles, construction machinery and other specialized applications. The company also provides tire-related services, fleet solutions and digital tools intended to support mobility, safety and operational efficiency.

Founded in 1889 by brothers André and Édouard Michelin in Clermont-Ferrand, France, Michelin has expanded from a regional tire maker into an international mobility company.