Michelin (OTCMKTS:MGDDY) Shares Gap Down – What’s Next?

Michelin (OTCMKTS:MGDDY) gapped down prior to trading on Tuesday . The stock had previously closed at $18.92, but opened at $18.00. Michelin shares last traded at $17.8620, with a volume of 58,000 shares traded.

Wall Street Analyst Weigh In

MGDDY has been the topic of a number of research reports. Barclays raised shares of Michelin from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, April 14th. Citigroup reaffirmed a “buy” rating on shares of Michelin in a research note on Thursday, January 29th. Finally, Zacks Research cut Michelin from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold”.

Michelin Trading Down 5.2%

The company’s 50-day simple moving average is $17.81 and its 200 day simple moving average is $17.61. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.22 and a current ratio of 1.90.

About Michelin

Michelin (OTCMKTS: MGDDY) is a French multinational tire manufacturer founded in 1889 and headquartered in Clermont-Ferrand, France. Over more than a century the company has grown into one of the world’s leading tiremakers, serving passenger car, truck, motorcycle, bicycle, agricultural, construction and aviation markets. Michelin has a global footprint with manufacturing facilities, research centers and commercial operations across multiple regions to supply OEMs, replacement markets and large commercial fleets.

The company’s core business is the design, manufacture and sale of tires and related products.