Michelin (OTCMKTS:MGDDY) Shares Down 0.8% – Here’s What Happened

Michelin (OTCMKTS:MGDDY)’s share price dropped 0.8% during mid-day trading on Friday . The company traded as low as $18.01 and last traded at $18.06. Approximately 104,751 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 254,885 shares. The stock had previously closed at $18.20.

Wall Street Analysts Forecast Growth

Separately, BNP Paribas upgraded shares of Michelin to a “hold” rating in a research report on Thursday, July 10th. Two research analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Michelin currently has a consensus rating of “Buy”.

Michelin Price Performance

The company has a current ratio of 1.80, a quick ratio of 1.12 and a debt-to-equity ratio of 0.04. The company’s 50-day simple moving average is $18.47 and its two-hundred day simple moving average is $18.22.

Michelin Company Profile

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.