Michelin (OTCMKTS:MGDDY) Stock Short Interest Falls 61.2%

Michelin (OTCMKTS:MGDDY) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 100,303 shares, a decrease of 61.2% from the September 30th total of 258,821 shares. Based on an average daily trading volume, of 253,334 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.0% of the shares of the company are short sold.

Michelin Stock Performance

MGDDY opened at $17.69 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.02 and a debt-to-equity ratio of 0.04. Michelin has a one year low of $15.35 and a one year high of $20.57. The business’s 50-day simple moving average is $19.11 and its 200-day simple moving average is $18.81.

Analyst Upgrades and Downgrades

MGDDY has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Michelin in a research note on Tuesday, July 28th. Citigroup reaffirmed a “buy” rating on shares of Michelin in a research note on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold”.

About Michelin

Michelin is a France-based global manufacturer best known for designing, producing and distributing tires. Its products serve passenger cars, motorcycles, trucks, buses, aircraft, agricultural equipment, mining vehicles, construction machinery and other specialized applications. The company also provides tire-related services, fleet solutions and digital tools intended to support mobility, safety and operational efficiency.

Founded in 1889 by brothers André and Édouard Michelin in Clermont-Ferrand, France, Michelin has expanded from a regional tire maker into an international mobility company.