PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Stock Short Interest Jumps 149.5%

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 3,932 shares, an increase of 149.5% from the September 30th total of 1,576 shares. Based on an average daily trading volume, of 1,897 shares, the short-interest ratio is currently 2.1 days. Approximately 0.0% of the company’s stock are sold short.

PT Indofood Sukses Makmur Tbk Trading Down 3.8%

OTCMKTS PIFMY traded down $0.67 on Friday, reaching $16.81. The company had a trading volume of 11,076 shares, compared to its average volume of 2,379. The company’s fifty day moving average is $19.35 and its 200 day moving average is $19.60. PT Indofood Sukses Makmur Tbk has a 52-week low of $16.28 and a 52-week high of $23.58.

Analysts Set New Price Targets

Separately, Zacks Research upgraded shares of PT Indofood Sukses Makmur Tbk from a “strong sell” rating to a “hold” rating in a report on Friday, September 4th. One investment analyst has rated the stock with a Hold rating. According to data from MarketBeat, PT Indofood Sukses Makmur Tbk currently has an average rating of “Hold”.

About PT Indofood Sukses Makmur Tbk

PT Indofood Sukses Makmur Tbk is an Indonesia-based food company with operations spanning the production, distribution and marketing of consumer food products. The company’s portfolio includes instant noodles, dairy products, snack foods, food seasonings, nutrition products and beverages, with well-known brands such as Indomie.

Indofood also operates through businesses focused on flour milling and pasta production, agribusiness and food ingredients, and distribution. Its Bogasari division is a major producer of wheat flour and pasta in Indonesia, while the company’s agribusiness activities include the cultivation and processing of agricultural commodities and the production of cooking oils and related products.

Founded in 1990, Indofood serves consumers throughout Indonesia through an extensive distribution network and sells selected products in international markets.