Short Interest in Michelin (OTCMKTS:MGDDY) Declines By 43.6%

Michelin (OTCMKTS:MGDDY) saw a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 96,684 shares, a drop of 43.6% from the May 14th total of 171,425 shares. Based on an average trading volume of 262,555 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.0% of the company’s shares are short sold.

Michelin Trading Up 1.0%

Shares of Michelin stock opened at $19.11 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.22. Michelin has a 52 week low of $14.82 and a 52 week high of $20.48. The stock has a 50 day moving average price of $18.26 and a two-hundred day moving average price of $17.87.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on MGDDY shares. Barclays upgraded Michelin from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, April 14th. Zacks Research cut Michelin from a “hold” rating to a “strong sell” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold”.

About Michelin

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.