Michelin (OTCMKTS:MGDDY) Short Interest Up 218.1% in May

Michelin (OTCMKTS:MGDDY) was the target of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 171,425 shares, a growth of 218.1% from the April 30th total of 53,897 shares. Based on an average trading volume of 212,138 shares, the short-interest ratio is presently 0.8 days. Approximately 0.0% of the shares of the company are short sold.

Michelin Trading Up 1.6%

Michelin stock opened at $18.25 on Friday. Michelin has a fifty-two week low of $14.82 and a fifty-two week high of $20.48. The firm’s fifty day moving average price is $17.91 and its 200-day moving average price is $17.71. The company has a quick ratio of 1.22, a current ratio of 1.90 and a debt-to-equity ratio of 0.04.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MGDDY shares. Barclays upgraded Michelin from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, April 14th. Zacks Research cut shares of Michelin from a “hold” rating to a “strong sell” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

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.