Michelin (OTCMKTS:MGDDY) Sees Significant Growth in Short Interest

Michelin (OTCMKTS:MGDDY) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 171,425 shares, a growth of 218.1% from the April 30th total of 53,897 shares. Currently, 0.0% of the company’s shares are sold short. Based on an average trading volume of 212,138 shares, the days-to-cover ratio is currently 0.8 days.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Zacks Research downgraded Michelin from a “hold” rating to a “strong sell” rating in a research report on Wednesday, May 6th. Barclays raised Michelin from an “underweight” rating to an “equal weight” rating in a research report on Tuesday, April 14th. One equities research analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Michelin presently has a consensus rating of “Hold”.

Michelin Stock Performance

Shares of MGDDY stock traded up $0.28 during mid-day trading on Friday, hitting $18.25. The stock had a trading volume of 178,638 shares, compared to its average volume of 111,348. Michelin has a 12-month low of $14.82 and a 12-month high of $20.48. The firm’s 50-day moving average is $17.91 and its two-hundred day moving average is $17.71. 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 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.