PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Sees Large Growth in Short Interest

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 2,688 shares, an increase of 570.3% from the February 26th total of 401 shares. Based on an average daily volume of 49,776 shares, the days-to-cover ratio is presently 0.1 days.

PT Indofood Sukses Makmur Tbk Stock Performance

OTCMKTS PIFMY opened at $17.95 on Thursday. The company has a 50-day simple moving average of $19.93 and a two-hundred day simple moving average of $21.20. PT Indofood Sukses Makmur Tbk has a 12-month low of $17.55 and a 12-month high of $27.81.

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.