PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Short Interest Down 35.3% in April

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) was the recipient of a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 1,714 shares, a drop of 35.3% from the April 15th total of 2,649 shares. Based on an average daily volume of 2,929 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded PT Indofood Sukses Makmur Tbk to a “hold” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, PT Indofood Sukses Makmur Tbk presently has a consensus rating of “Hold”.

PT Indofood Sukses Makmur Tbk Price Performance

PIFMY traded down $0.32 during midday trading on Monday, reaching $19.10. 1,914 shares of the company were exchanged, compared to its average volume of 8,417. PT Indofood Sukses Makmur Tbk has a one year low of $16.67 and a one year high of $27.81. The stock’s 50-day simple moving average is $19.72 and its 200 day simple moving average is $20.60.

About PT Indofood Sukses Makmur Tbk

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.