Short Interest in Tesco PLC (OTCMKTS:TSCDY) Increases By 442.6%

Tesco PLC (OTCMKTS:TSCDY) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 312,000 shares, an increase of 442.6% from the November 30th total of 57,500 shares. Based on an average daily trading volume, of 455,000 shares, the short-interest ratio is currently 0.7 days.

Analysts Set New Price Targets

A number of brokerages have issued reports on TSCDY. Royal Bank of Canada assumed coverage on Tesco in a research report on Tuesday, November 19th. They issued a “sector perform” rating on the stock. Citigroup raised shares of Tesco to a “strong-buy” rating in a report on Friday, September 13th. Finally, BNP Paribas initiated coverage on shares of Tesco in a research note on Friday, October 18th. They issued an “outperform” rating on the stock.

Tesco Stock Down 1.4 %

OTCMKTS:TSCDY traded down $0.19 during mid-day trading on Friday, hitting $14.02. 176,527 shares of the company’s stock were exchanged, compared to its average volume of 369,435. The company has a 50 day simple moving average of $13.77 and a 200-day simple moving average of $13.46. Tesco has a fifty-two week low of $10.36 and a fifty-two week high of $14.85.

Tesco Cuts Dividend

The company also recently declared a dividend, which was paid on Monday, December 2nd. Stockholders of record on Tuesday, October 15th were given a $0.1692 dividend. The ex-dividend date of this dividend was Tuesday, October 15th.

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.