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

Tesco PLC (OTCMKTS:TSCDYGet Rating) was the target of a large growth in short interest during the month of May. As of May 15th, there was short interest totalling 6,600 shares, a growth of 340.0% from the April 30th total of 1,500 shares. Based on an average trading volume of 606,700 shares, the days-to-cover ratio is presently 0.0 days.

TSCDY has been the topic of several analyst reports. Kepler Capital Markets upgraded shares of Tesco from a “hold” rating to a “buy” rating in a research note on Wednesday, February 2nd. Zacks Investment Research downgraded shares of Tesco from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Finally, Berenberg Bank decreased their price objective on shares of Tesco from GBX 327 ($4.11) to GBX 320 ($4.03) in a research report on Tuesday, April 19th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $167.00.

TSCDY stock opened at $9.59 on Thursday. Tesco has a 12 month low of $9.16 and a 12 month high of $12.47. The company has a quick ratio of 0.61, a current ratio of 0.76 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $10.41 and a 200 day moving average price of $11.22.

The business also recently disclosed a dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, May 20th will be given a $0.2964 dividend. The ex-dividend date is Thursday, May 19th. This represents a yield of 4.13%.

About Tesco (Get Rating)

Tesco PLC, together with its subsidiaries, engages in retailing and retail banking activities. It provides food products through operating stores in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary, as well as through online. The company is also involved in the food wholesaling activities.

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