Short Interest in PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Rises By 854.2%

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY – Get Free Report) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 2,500 shares, an increase of 854.2% from the August 15th total of 262 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average trading volume of 2,808 shares, the days-to-cover ratio is currently 0.9 days.

Wall Street Analyst Weigh In

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

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PT Indofood Sukses Makmur Tbk Stock Performance

Shares of OTCMKTS PIFMY remained flat at $19.86 during trading hours on Thursday. The stock had a trading volume of 148 shares, compared to its average volume of 1,249. PT Indofood Sukses Makmur Tbk has a 12 month low of $16.28 and a 12 month high of $24.45. The firm’s fifty day moving average price is $19.98 and its 200 day moving average price is $19.60.

PT Indofood Sukses Makmur Tbk Company Profile

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PT Indofood Sukses Makmur Tbk is an Indonesian-based integrated food company and one of the world’s largest producers of instant noodles. Established in 1990 and headquartered in Jakarta, the company operates through several business segments including consumer branded products, flour milling, edible oils and fats, and agribusiness. Indofood is a member of the Salim Group and has grown through both organic expansion and strategic acquisitions to become a leading name in the regional food industry.

In its consumer branded products division, Indofood manufactures and markets a diverse portfolio that spans instant noodles, dairy products, snack foods, biscuits, confectionery, and flavored beverages.

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