Michelin (OTCMKTS:MGDDY) Sees Significant Decrease in Short Interest

Michelin (OTCMKTS:MGDDY – Get Free Report) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totaling 80,925 shares, a drop of 49.5% from the August 15th total of 160,287 shares. Based on an average trading volume of 743,331 shares, the short-interest ratio is currently 0.1 days. Approximately 0.0% of the shares of the stock are short sold.

Analyst Ratings Changes

MGDDY has been the subject of a number of recent research reports. Citigroup restated a “buy” rating on shares of Michelin in a report on Wednesday, August 12th. Zacks Research raised shares of Michelin from a “strong sell” rating to a “hold” rating in a report on Monday, June 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Michelin in a research report on Tuesday, July 28th. Two investment 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 has a consensus rating of “Hold”.

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Michelin Stock Performance

Shares of OTCMKTS:MGDDY traded down $0.27 during trading on Tuesday, reaching $19.05. 330,091 shares of the company traded hands, compared to its average volume of 158,812. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.90. Michelin has a 52-week low of $14.82 and a 52-week high of $20.57. The business’s fifty day moving average is $19.88 and its 200-day moving average is $18.83.

Michelin Company Profile

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Michelin is a French multinational company that develops, manufactures and sells tires for passenger cars, commercial vehicles, motorcycles, bicycles, aircraft and specialized equipment. Its product portfolio serves consumer, professional and industrial customers, including applications in transportation, construction, agriculture and mining.

Founded in 1889 by brothers Édouard and André Michelin, the company has expanded from tire manufacturing into broader mobility-related products and services.

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