Michelin (OTCMKTS:MGDDY) Short Interest Update

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 recipient 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 currently 0.1 days. Currently, 0.0% of the company's stock are short sold. Currently, 0.0% of the company's stock are short sold. Based on an average daily volume of 472,200 shares, the days-to-cover ratio is currently 0.1 days.

Wall Street Analyst Weigh In

Separately, BNP Paribas raised Michelin to a "hold" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Michelin presently has a consensus rating of "Buy".

Michelin Price Performance

Shares of Michelin stock traded down $0.01 on Friday, hitting $18.26. The company's stock had a trading volume of 74,972 shares, compared to its average volume of 215,885. Michelin has a 1 year low of $15.70 and a 1 year high of $20.86. The firm has a fifty day moving average price of $18.38 and a 200-day moving average price of $18.29. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.80 and a quick ratio of 1.12.

Michelin Company Profile

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.