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

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

Analyst Upgrades and Downgrades

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

Tesco Stock Performance

OTCMKTS TSCDY traded up $0.20 on Friday, reaching $14.21. 181,054 shares of the company were exchanged, compared to its average volume of 370,210. Tesco has a fifty-two week low of $10.36 and a fifty-two week high of $14.85. The business’s fifty day moving average price is $13.77 and its 200 day moving average price is $13.44.

Tesco Cuts Dividend

The company also recently disclosed a dividend, which was paid on Monday, December 2nd. Investors of record on Tuesday, October 15th were issued 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.