PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Short Interest Up 52.3% in August

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) saw a large increase in short interest in August. As of August 14th, there was short interest totaling 262 shares, an increase of 52.3% from the July 30th total of 172 shares. Based on an average trading volume of 2,338 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

PT Indofood Sukses Makmur Tbk Price Performance

PT Indofood Sukses Makmur Tbk stock opened at $20.20 on Thursday. The firm has a 50 day simple moving average of $19.77 and a 200-day simple moving average of $19.61. PT Indofood Sukses Makmur Tbk has a 1-year low of $16.28 and a 1-year high of $24.45.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut PT Indofood Sukses Makmur Tbk from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, PT Indofood Sukses Makmur Tbk presently has an average rating of “Sell”.

About PT Indofood Sukses Makmur Tbk

PT Indofood Sukses Makmur Tbk is an Indonesian-based integrated food company and one of the world’s largest producers of instant noodles. Established in 1990 and headquartered in Jakarta, the company operates through several business segments including consumer branded products, flour milling, edible oils and fats, and agribusiness. Indofood is a member of the Salim Group and has grown through both organic expansion and strategic acquisitions to become a leading name in the regional food industry.

In its consumer branded products division, Indofood manufactures and markets a diverse portfolio that spans instant noodles, dairy products, snack foods, biscuits, confectionery, and flavored beverages.