Michelin (OTCMKTS:MGDDY – Get Free Report) was the target of a significant decline in short interest in 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. Currently, 0.0% of the company’s stock are short sold. Based on an average trading volume of 193,085 shares, the short-interest ratio is presently 0.4 days.
Michelin Trading Up 1.0%
Shares of OTCMKTS:MGDDY traded up $0.20 during trading hours on Thursday, reaching $19.87. The stock had a trading volume of 27,936 shares, compared to its average volume of 138,491. Michelin has a 1 year low of $14.82 and a 1 year high of $20.48. The firm’s 50 day moving average is $19.09 and its 200-day moving average is $18.59. The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on MGDDY. Barclays upgraded Michelin from an “underweight” rating to an “equal weight” rating in a report on Tuesday, April 14th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Michelin in a research report on Tuesday. Finally, Zacks Research upgraded Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Two research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Michelin presently has an average rating of “Hold”.
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.
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