Tesco PLC (OTCMKTS:TSCDY) Short Interest Up 116.9% in June

Tesco PLC (OTCMKTS:TSCDY) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 147,456 shares, an increase of 116.9% from the May 31st total of 67,971 shares. Based on an average trading volume of 752,660 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TSCDY. Citigroup assumed coverage on Tesco in a research report on Tuesday, May 5th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Tesco in a report on Monday, April 13th. Erste Group Bank began coverage on shares of Tesco in a report on Tuesday, May 5th. They issued a “buy” rating for the company. Finally, Morgan Stanley assumed coverage on shares of Tesco in a research report on Monday, May 18th. They issued an “overweight” rating for the company. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Tesco Trading Up 0.3%

Shares of OTCMKTS:TSCDY opened at $18.38 on Tuesday. Tesco has a 12 month low of $16.27 and a 12 month high of $20.54. The stock’s 50 day moving average price is $18.67 and its 200 day moving average price is $18.61. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.59 and a quick ratio of 0.39.

About Tesco

Tesco PLC is a British multinational grocery and general merchandise retailer headquartered in Welwyn Garden City, Hertfordshire. Founded in 1919 by Jack Cohen as a market stall, the company expanded into a nationwide chain of supermarkets and has grown into one of the largest retailers in the United Kingdom. Tesco operates a range of store formats designed to serve different customer needs, including large-format hypermarkets, standard supermarkets and smaller convenience stores, along with an extensive online grocery and home delivery service.

The company’s core activities include the retail sale of food and non-food products, development and distribution of own-label ranges (from value to premium), and provision of convenience and fuel forecourt services.