Tesco PLC (OTCMKTS:TSCDY) Sees Significant Growth in Short Interest

Tesco PLC (OTCMKTS:TSCDY) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 203,089 shares, a growth of 78.6% from the July 30th total of 113,718 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 654,844 shares, the short-interest ratio is presently 0.3 days.

Tesco Stock Performance

TSCDY opened at $18.56 on Monday. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.47. The business’s 50-day moving average is $18.94 and its two-hundred day moving average is $19.04. Tesco has a 1 year low of $16.65 and a 1 year high of $20.54.

Analyst Ratings Changes

Several brokerages recently issued reports on TSCDY. Morgan Stanley reissued an “overweight” rating on shares of Tesco in a research note on Monday, July 6th. Erste Group Bank lowered Tesco from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup began coverage on shares of Tesco in a report on Tuesday, May 5th. They set a “buy” rating on the stock. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Tesco has an average rating of “Moderate Buy”.

Tesco Company Profile

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.