Michelin (OTCMKTS:MGDDY) Short Interest Update

Michelin (OTCMKTS:MGDDY) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 104,678 shares, a drop of 54.7% from the February 26th total of 231,171 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 330,276 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

A number of research analysts have commented on MGDDY shares. Citigroup reaffirmed a “buy” rating on shares of Michelin in a research report on Thursday, January 29th. UBS Group downgraded shares of Michelin from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 2nd. Berenberg Bank initiated coverage on shares of Michelin in a report on Tuesday, January 13th. They issued a “hold” rating on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Michelin in a research report on Tuesday, December 2nd. Finally, Zacks Research raised Michelin from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 11th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Michelin Price Performance

Michelin stock traded down $0.30 during midday trading on Friday, reaching $16.59. 175,501 shares of the stock traded hands, compared to its average volume of 186,559. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.90. The company has a 50-day simple moving average of $18.53 and a two-hundred day simple moving average of $17.40. Michelin has a 12-month low of $14.82 and a 12-month high of $20.48.

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.