Tesco PLC (OTCMKTS:TSCDY) Sees Significant Growth in Short Interest

Tesco PLC (OTCMKTS:TSCDY) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 203,089 shares, an increase of 78.6% from the July 30th total of 113,718 shares. Based on an average daily trading volume, of 654,844 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.0% of the company’s stock are short sold.

Analyst Ratings Changes

A number of analysts recently commented on TSCDY shares. Morgan Stanley reiterated an “overweight” rating on shares of Tesco in a research note on Monday, July 6th. Erste Group Bank lowered shares of Tesco from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup initiated coverage on shares of Tesco in a report on Tuesday, May 5th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy”.

Tesco Price Performance

TSCDY stock opened at $18.56 on Monday. Tesco has a 52-week low of $16.65 and a 52-week high of $20.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.39. The company’s 50-day simple moving average is $18.94 and its 200-day simple moving average is $19.04.

Tesco Company Profile

Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire. Founded in 1919 by Jack Cohen as a market stall, the company expanded into a nationwide chain of supermarkets and has grown into one of the largest retailers in the United Kingdom. Tesco operates a range of store formats designed to serve different customer needs, including large-format hypermarkets, standard supermarkets and smaller convenience stores, along with an extensive online grocery and home delivery service.

The company’s core activities include the retail sale of food and non-food products, development and distribution of own-label ranges (from value to premium), and provision of convenience and fuel forecourt services.