Short Interest in PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Declines By 89.2%

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) saw a large decline in short interest in the month of July. As of July 31st, there was short interest totaling 172 shares, a decline of 89.2% from the July 15th total of 1,594 shares. Based on an average daily volume of 5,501 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are short sold.

PT Indofood Sukses Makmur Tbk Trading Up 3.2%

Shares of OTCMKTS:PIFMY traded up $0.66 during trading on Thursday, reaching $21.50. 1,086 shares of the company traded hands, compared to its average volume of 6,201. The firm has a fifty day simple moving average of $18.93 and a 200 day simple moving average of $19.61. PT Indofood Sukses Makmur Tbk has a 1-year low of $16.28 and a 1-year high of $26.40.

Analyst Ratings Changes

Separately, Zacks Research downgraded PT Indofood Sukses Makmur Tbk from a “hold” rating to a “strong sell” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, PT Indofood Sukses Makmur Tbk has a consensus rating of “Sell”.

PT Indofood Sukses Makmur Tbk Company Profile

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.