Short Interest in Michelin (OTCMKTS:MGDDY) Decreases By 43.8%

Michelin (OTCMKTS:MGDDY) was the recipient of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 78,065 shares, a decline of 43.8% from the June 30th total of 138,855 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 193,085 shares, the short-interest ratio is currently 0.4 days.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MGDDY shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Michelin in a report on Tuesday. Barclays upgraded Michelin from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, April 14th. Finally, Zacks Research upgraded Michelin from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Michelin Price Performance

Shares of MGDDY traded up $0.24 during mid-day trading on Friday, reaching $20.14. The company had a trading volume of 55,151 shares, compared to its average volume of 138,145. Michelin has a fifty-two week low of $14.82 and a fifty-two week high of $20.48. The firm has a fifty day simple moving average of $19.12 and a 200-day simple moving average of $18.60. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

Michelin Company Profile

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.