Michelin (OTCMKTS:MGDDY – Get Free Report) saw a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 258,821 shares, a growth of 398.6% from the September 15th total of 51,911 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average trading volume of 414,846 shares, the short-interest ratio is presently 0.6 days.
Michelin Price Performance
Michelin stock traded up $0.10 during midday trading on Friday, hitting $18.72. 180,049 shares of the stock were exchanged, compared to its average volume of 226,889. The company has a fifty day simple moving average of $19.57 and a two-hundred day simple moving average of $18.97. The company has a quick ratio of 1.02, a current ratio of 1.65 and a debt-to-equity ratio of 0.04. Michelin has a 52 week low of $14.82 and a 52 week high of $20.57.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on MGDDY. Zacks Research raised Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Citigroup reissued a “buy” rating on shares of Michelin in a research note on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Michelin in a research note on Tuesday, July 28th. Two analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold”.
About Michelin
Michelin is a France-based manufacturer best known for designing, producing and distributing tires. The company serves passenger vehicles, motorcycles, trucks, buses, aircraft, agricultural equipment, mining vehicles and other industrial applications. It also develops related products and services, including connected tire technologies, fleet solutions and mobility services.
Founded in 1889 by brothers Édouard and André Michelin, the company is headquartered in Clermont-Ferrand, France.
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