Tesco PLC (OTCMKTS:TSCDY) Short Interest Down 51.7% in June

Tesco PLC (OTCMKTS:TSCDY) was the recipient of a significant drop in short interest during the month of June. As of June 30th, there was short interest totaling 71,185 shares, a drop of 51.7% from the June 15th total of 147,456 shares. Based on an average daily volume of 797,988 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.0% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several analysts have weighed in on TSCDY shares. Citigroup initiated coverage on shares of Tesco in a research note on Tuesday, May 5th. They set a “buy” rating for the company. Morgan Stanley reaffirmed an “overweight” rating on shares of Tesco in a report on Monday, July 6th. Erste Group Bank started coverage on shares of Tesco in a research note on Tuesday, May 5th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Tesco in a report on Monday, April 13th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

Tesco Price Performance

TSCDY stock opened at $18.80 on Tuesday. Tesco has a 1 year low of $16.47 and a 1 year high of $20.54. The company has a current ratio of 0.59, a quick ratio of 0.39 and a debt-to-equity ratio of 0.47. The stock’s fifty day moving average is $18.48 and its two-hundred day moving average is $18.68.

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.