Michelin (OTCMKTS:MGDDY) Sees Significant Growth in Short Interest

Key Points

• Michelin experienced a 35.4% increase in short interest in August, with total shares short rising to 67,300 as of August 31st.
• Despite the increase in short interest, Michelin holds a Buy rating on average, with two analysts suggesting a Strong Buy and two others rating it Hold.
• As of the latest stock update, Michelin shares were trading at $18.47, with a one year low of $15.70 and a high of $20.86.

Michelin (OTCMKTS:MGDDY - Get Free Report) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 67,300 shares, a growth of 35.4% from the August 15th total of 49,700 shares. Based on an average daily volume of 472,200 shares, the days-to-cover ratio is presently 0.1 days. Currently, 0.0% of the shares of the company are short sold. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 472,200 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas raised shares of Michelin to a "hold" rating in a research note on Thursday, July 10th. Two analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Michelin presently has an average rating of "Buy".

Michelin Stock Up 0.5%

Shares of OTCMKTS MGDDY opened at $18.47 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.12 and a current ratio of 1.80. Michelin has a one year low of $15.70 and a one year high of $20.86. The company's fifty day moving average is $18.42 and its two-hundred day moving average is $18.28.

About Michelin

Compagnie Générale des Établissements Michelin SCA engages in the manufacture, distribution and sale of tires. Its products and services include tires, mobility services, lifestyle products, Michelin solutions and Michelin engineering and services. The company operates through the following segments: Passenger car and Light truck tires and related distribution, Truck tires and related distribution, and Specialty businesses.

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