Michelin (OTCMKTS:MGDDY) Shares Gap Down – Should You Sell?

Shares of Michelin (OTCMKTS:MGDDY) gapped down before the market opened on Tuesday . The stock had previously closed at $18.92, but opened at $18.00. Michelin shares last traded at $17.8620, with a volume of 58,000 shares.

Wall Street Analyst Weigh In

MGDDY has been the subject of a number of recent analyst reports. Barclays raised shares of Michelin from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, April 14th. Zacks Research cut shares of Michelin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Finally, Citigroup reissued a “buy” rating on shares of Michelin in a research report on Thursday, January 29th. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold”.

Michelin Price Performance

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.22. The firm’s 50-day simple moving average is $17.81 and its 200-day simple moving average is $17.63.

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.