Tesco PLC (OTCMKTS:TSCDY) Shares Shorted: Short Interest Down 87.4% in October

Tesco PLC (OTCMKTS:TSCDY) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 28,401 shares, a drop of 87.4% from the September 30th total of 224,863 shares. Based on an average daily volume of 541,452 shares, the short-interest ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TSCDY. Erste Group Bank lowered Tesco from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesco in a report on Monday, July 6th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Tesco currently has a consensus rating of “Moderate Buy”.

Tesco Trading Up 0.0%

OTCMKTS TSCDY opened at $21.45 on Wednesday. The business’s 50 day moving average is $19.58 and its two-hundred day moving average is $19.01. Tesco has a 12-month low of $16.65 and a 12-month high of $22.03.

About Tesco

Tesco plc is a multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, England. The company operates supermarkets, hypermarkets, convenience stores and online grocery services, selling fresh food, packaged groceries, household products, clothing and other general merchandise. Tesco also operates fuel stations and offers loyalty benefits through its Clubcard program.

Founded in 1919 by Jack Cohen as a market stall business, Tesco has grown into one of the United Kingdom’s largest retailers.