Michelin (OTCMKTS:MGDDY) Sees Strong Trading Volume – Here’s What Happened

Michelin (OTCMKTS:MGDDY) saw unusually-strong trading volume on Monday. 354,330 shares changed hands during mid-day trading, an increase of 118% from the previous session’s volume of 162,605 shares. The stock last traded at $19.3253 and had previously closed at $19.31.

Analysts Set New Price Targets

MGDDY has been the subject of several research reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Michelin in a report on Tuesday, July 28th. Citigroup reissued a “buy” rating on shares of Michelin in a research note on Wednesday, August 12th. Finally, Zacks Research raised Michelin from a “strong sell” rating to a “hold” rating in a research report on Monday, June 29th. Two investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Michelin Stock Performance

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 firm’s 50 day moving average is $19.76 and its 200 day moving average is $18.84.

Michelin Company Profile

Michelin is a French multinational company that develops, manufactures and sells tires for passenger cars, commercial vehicles, motorcycles, bicycles, aircraft and specialized equipment. Its product portfolio serves consumer, professional and industrial customers, including applications in transportation, construction, agriculture and mining.

Founded in 1889 by brothers Édouard and André Michelin, the company has expanded from tire manufacturing into broader mobility-related products and services.