Compagnie Générale des Établissements Michelin Société en commandite par actions (OTCMKTS:MGDDY) Short Interest Down 73.9% in August

Compagnie Générale des Établissements Michelin Société en commandite par actions (OTCMKTS:MGDDY) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 17,900 shares, a decrease of 73.9% from the August 15th total of 68,700 shares. Based on an average trading volume of 147,200 shares, the days-to-cover ratio is currently 0.1 days.

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft set a $32.50 price target on shares of Compagnie Générale des Établissements Michelin Société en commandite par actions and gave the company a “buy” rating in a research report on Monday, July 12th. UBS Group restated a “buy” rating on shares of Compagnie Générale des Établissements Michelin Société en commandite par actions in a research report on Thursday, July 29th. Royal Bank of Canada restated an “outperform” rating on shares of Compagnie Générale des Établissements Michelin Société en commandite par actions in a research report on Wednesday, July 28th. Barclays restated an “overweight” rating on shares of Compagnie Générale des Établissements Michelin Société en commandite par actions in a research report on Monday, August 2nd. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Compagnie Générale des Établissements Michelin Société en commandite par actions in a research report on Tuesday, July 27th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $34.25.

Shares of MGDDY traded down $0.05 during trading hours on Wednesday, hitting $32.17. 104,177 shares of the stock were exchanged, compared to its average volume of 172,259. Compagnie Générale des Établissements Michelin Société en commandite par actions has a fifty-two week low of $20.92 and a fifty-two week high of $34.23. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.83 and a quick ratio of 1.28. The business has a 50-day moving average of $32.64 and a 200-day moving average of $31.24. The firm has a market capitalization of $28.68 billion, a P/E ratio of 40.21 and a beta of 1.09.

About Compagnie Générale des Établissements Michelin Société en commandite par actions

Compagnie Générale des Établissements Michelin SCA engages in the manufacture, distribution and sale of tires. Its products and services include tires, mobility services, lifestyle products, Michelin solutions and Michelin engineering and services. The company operates through the following segments: Passenger car and Light truck tires and related distribution, Truck tires and related distribution, and Specialty businesses.

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