Michelin (OTCMKTS:MGDDY) Shares Gap Down – Time to Sell?

Shares of Michelin (OTCMKTS:MGDDY) gapped down prior to trading on Tuesday . The stock had previously closed at $18.4640, but opened at $17.5601. Michelin shares last traded at $17.6550, with a volume of 1,041 shares changing hands.

Analyst Ratings Changes

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

Michelin Trading Down 0.1%

The company has a current ratio of 1.90, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $17.83 and its 200 day moving average is $17.67.

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.