Michelin (OTCMKTS:MGDDY) Short Interest Update

Michelin (OTCMKTS:MGDDY) was the target of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 104,678 shares, a decline of 54.7% from the February 26th total of 231,171 shares. Based on an average trading volume of 330,276 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.0% of the shares of the company are sold short.

Michelin Price Performance

Shares of MGDDY opened at $16.85 on Thursday. The stock has a fifty day moving average price of $18.56 and a 200 day moving average price of $17.42. 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 12 month low of $14.82 and a 12 month high of $20.48.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Zacks Research upgraded Michelin from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 11th. UBS Group lowered shares of Michelin from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 2nd. Morgan Stanley reissued an “equal weight” rating on shares of Michelin in a report on Tuesday, December 2nd. Citigroup restated a “buy” rating on shares of Michelin in a research report on Thursday, January 29th. Finally, Berenberg Bank assumed coverage on shares of Michelin in a research report on Tuesday, January 13th. They set a “hold” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.