PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) Short Interest Up 52.3% in August

PT Indofood Sukses Makmur Tbk (OTCMKTS:PIFMY) was the target of a large growth in short interest in August. As of August 14th, there was short interest totaling 262 shares, a growth of 52.3% from the July 30th total of 172 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 2,338 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Separately, Zacks Research lowered PT Indofood Sukses Makmur Tbk from a “hold” rating to a “strong sell” rating in a research note on Friday, July 10th. One analyst has rated the stock with a Sell rating, According to MarketBeat, PT Indofood Sukses Makmur Tbk presently has an average rating of “Sell”.

PT Indofood Sukses Makmur Tbk Stock Performance

PIFMY stock opened at $21.11 on Tuesday. PT Indofood Sukses Makmur Tbk has a 52-week low of $16.28 and a 52-week high of $24.45. The stock’s fifty day simple moving average is $19.70 and its 200-day simple moving average is $19.62.

PT Indofood Sukses Makmur Tbk Company Profile

PT Indofood Sukses Makmur Tbk is an Indonesian-based integrated food company and one of the world’s largest producers of instant noodles. Established in 1990 and headquartered in Jakarta, the company operates through several business segments including consumer branded products, flour milling, edible oils and fats, and agribusiness. Indofood is a member of the Salim Group and has grown through both organic expansion and strategic acquisitions to become a leading name in the regional food industry.

In its consumer branded products division, Indofood manufactures and markets a diverse portfolio that spans instant noodles, dairy products, snack foods, biscuits, confectionery, and flavored beverages.