PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Stock Short Interest Falls 80.3%

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) saw a significant drop in short interest in the month of October. As of October 30th, there was short interest totaling 776 shares, a drop of 80.3% from the October 15th total of 3,932 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 6,040 shares, the days-to-cover ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of PT Indofood Sukses Makmur Tbk from a “strong sell” rating to a “hold” rating in a research note on Friday, September 4th. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock presently has a consensus rating of “Hold”.

PT Indofood Sukses Makmur Tbk Stock Performance

OTCMKTS PIFMY traded up $0.45 during trading on Thursday, hitting $19.21. The stock had a trading volume of 928 shares, compared to its average volume of 5,072. The firm has a 50 day moving average price of $18.93 and a 200 day moving average price of $19.52. PT Indofood Sukses Makmur Tbk has a twelve month low of $16.28 and a twelve month high of $22.90.

About PT Indofood Sukses Makmur Tbk

PT Indofood Sukses Makmur Tbk is an Indonesian food company with operations spanning the production and distribution of packaged foods and agricultural commodities. Its consumer-branded products include instant noodles, dairy products, snack foods, seasonings, nutrition products and beverages. The company is particularly known for its Indomie instant-noodle brand. Indofood also operates in flour milling and pasta production through Bogasari, as well as in agribusiness activities that include plantations and the production of cooking oils and other food ingredients.