Michelin (OTCMKTS:MGDDY) Stock Price Down 4.1% – Here’s What Happened

Michelin (OTCMKTS:MGDDY) shares fell 4.1% during mid-day trading on Monday. The company traded as low as $18.37 and last traded at $18.37. Approximately 4,227 shares were traded during mid-day trading, a decline of 97% from the average daily volume of 162,630 shares. The stock had previously closed at $19.16.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on MGDDY shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Michelin in a research note on Tuesday, July 28th. Zacks Research upgraded shares of Michelin from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Finally, Citigroup restated a “buy” rating on shares of Michelin in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Michelin Stock Down 1.6%

The firm has a 50-day simple moving average of $19.47 and a two-hundred day simple moving average of $19.04. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04.

About Michelin

Michelin is a France-based global manufacturer best known for designing, producing and distributing tires. Its products serve passenger cars, motorcycles, trucks, buses, aircraft, agricultural equipment, mining vehicles, construction machinery and other specialized applications. The company also provides tire-related services, fleet solutions and digital tools intended to support mobility, safety and operational efficiency.

Founded in 1889 by brothers André and Édouard Michelin in Clermont-Ferrand, France, Michelin has expanded from a regional tire maker into an international mobility company.