Michelin (OTCMKTS:MGDDY) Short Interest Update

Michelin (OTCMKTS:MGDDY) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totaling 107,611 shares, a growth of 63.6% from the December 31st total of 65,783 shares. Based on an average trading volume of 337,295 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the shares of the company are sold short. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 337,295 shares, the days-to-cover ratio is presently 0.3 days.

Michelin Stock Performance

Shares of OTCMKTS:MGDDY traded down $0.25 during midday trading on Friday, hitting $18.55. The stock had a trading volume of 134,353 shares, compared to its average volume of 167,153. The company’s 50-day moving average price is $16.95 and its 200-day moving average price is $17.33. Michelin has a fifty-two week low of $14.82 and a fifty-two week high of $20.00. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.12.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Citigroup restated a “buy” rating on shares of Michelin in a research note on Thursday. Morgan Stanley restated an “equal weight” rating on shares of Michelin in a report on Tuesday, December 2nd. Berenberg Bank assumed coverage on Michelin in a research note on Tuesday, January 13th. They set a “hold” rating on the stock. Oddo Bhf downgraded Michelin to a “neutral” rating in a research note on Tuesday, October 14th. Finally, Zacks Research upgraded Michelin from a “strong sell” rating to a “hold” rating in a research report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

About Michelin

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.