PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Stock Short Interest Falls 80.3%

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) was the target of a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 776 shares, a decrease of 80.3% from the October 15th total of 3,932 shares. Based on an average trading volume of 6,040 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the company’s stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded PT Indofood Sukses Makmur Tbk from a “strong sell” rating to a “hold” rating in a research note on Friday, September 4th. One investment analyst has rated the stock with a Hold rating. According to MarketBeat, the company currently has a consensus rating of “Hold”.

PT Indofood Sukses Makmur Tbk Stock Performance

Shares of PT Indofood Sukses Makmur Tbk stock traded up $0.45 on Thursday, reaching $19.21. 928 shares of the company were exchanged, compared to its average volume of 5,072. PT Indofood Sukses Makmur Tbk has a 1-year low of $16.28 and a 1-year high of $22.90. The stock’s 50 day moving average price is $18.93 and its 200-day moving average price is $19.52.

About PT Indofood Sukses Makmur Tbk

PT Indofood Sukses Makmur Tbk is an Indonesian food company with operations spanning the production and distribution of packaged foods and agricultural commodities. Its consumer-branded products include instant noodles, dairy products, snack foods, seasonings, nutrition products and beverages. The company is particularly known for its Indomie instant-noodle brand. Indofood also operates in flour milling and pasta production through Bogasari, as well as in agribusiness activities that include plantations and the production of cooking oils and other food ingredients.