Michelin (OTCMKTS:MGDDY) Sees Large Volume Increase – Here’s Why

Michelin (OTCMKTS:MGDDY) saw unusually-high trading volume on Monday . Approximately 220,644 shares changed hands during mid-day trading, an increase of 90% from the previous session’s volume of 116,338 shares.The stock last traded at $16.6999 and had previously closed at $16.75.

Wall Street Analysts Forecast Growth

MGDDY has been the subject of a number of recent research reports. Zacks Research upgraded shares of Michelin from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Oddo Bhf cut Michelin to a “neutral” rating in a report on Tuesday, October 14th. Morgan Stanley reissued an “equal weight” rating on shares of Michelin in a research note on Tuesday, December 2nd. UBS Group downgraded Michelin from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 2nd. Finally, Citigroup reiterated a “buy” rating on shares of Michelin in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

Michelin Stock Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.12. The business has a fifty day moving average of $16.32 and a 200 day moving average of $17.43.

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.