Tesco PLC (OTCMKTS:TSCDY) Sees Large Decline in Short Interest

Tesco PLC (OTCMKTS:TSCDY) was the recipient of a large decline in short interest in January. As of January 15th, there was short interest totalling 177,200 shares, a decline of 61.9% from the December 31st total of 464,500 shares. Based on an average trading volume of 1,216,500 shares, the days-to-cover ratio is currently 0.1 days.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. BNP Paribas initiated coverage on shares of Tesco in a report on Friday, October 18th. They issued an “outperform” rating on the stock. Royal Bank of Canada assumed coverage on Tesco in a research report on Tuesday, November 19th. They set a “sector perform” rating on the stock.

Tesco Stock Up 1.4 %

OTCMKTS:TSCDY traded up $0.19 during trading hours on Friday, hitting $14.01. 176,176 shares of the company were exchanged, compared to its average volume of 444,058. The company’s 50 day moving average price is $13.84 and its 200-day moving average price is $13.76. Tesco has a 52-week low of $10.36 and a 52-week high of $14.85.

About Tesco

Tesco PLC, together with its subsidiaries, operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary. It offers grocery products through its stores, as well as online. The company is also involved in the food and drink wholesaling activities.