Michelin (OTCMKTS:MGDDY) Shares Shorted: Short Interest Down 35.9% in September

Michelin (OTCMKTS:MGDDY) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 51,911 shares, a decline of 35.9% from the August 31st total of 80,925 shares. Based on an average daily volume of 378,079 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

MGDDY has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Michelin in a research note on Tuesday, July 28th. Zacks Research raised shares of Michelin from a “strong sell” rating to a “hold” rating in a research note on Monday, June 29th. Finally, Citigroup reiterated a “buy” rating on shares of Michelin in a research note on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Michelin has an average rating of “Hold”.

Michelin Stock Performance

Shares of MGDDY opened at $18.99 on Thursday. Michelin has a 12-month low of $14.82 and a 12-month high of $20.57. The company has a current ratio of 1.65, a quick ratio of 1.22 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average price of $19.71 and a 200-day moving average price of $18.87.

Michelin Company Profile

Michelin is a France-based manufacturer best known for designing, producing and distributing tires. The company serves passenger vehicles, motorcycles, trucks, buses, aircraft, agricultural equipment, mining vehicles and other industrial applications. It also develops related products and services, including connected tire technologies, fleet solutions and mobility services.

Founded in 1889 by brothers Édouard and André Michelin, the company is headquartered in Clermont-Ferrand, France.