PT Indofood Sukses Makmur Sees Significant Drop in Short Interest
PT Indofood Sukses Makmur Tbk experienced a notable decline in short interest in December 2023. As of December 15, the company’s short interest totaled just 750 shares, representing a decrease of 32.2% from the previous month’s total of 1,106 shares. This shift indicates a changing sentiment among investors, particularly when considering the average daily trading volume of 1,400 shares, resulting in a short-interest ratio of 0.5 days.
Market Performance and Trading Activity
On Tuesday, PT Indofood Sukses Makmur Tbk saw its stock price decrease by $1.42, closing at $20.39. During the trading session, a total of 6,029 shares changed hands, significantly higher than its average volume of 946 shares. The company’s 50-day moving average currently stands at $21.68, while the 200-day moving average is noted at $23.09. Over the past year, the stock has demonstrated volatility, with a low of $19.41 and a high of $27.81.
PT Indofood Sukses Makmur Tbk is a prominent player in the global food industry, particularly known for its production of instant noodles. Established in 1990 and headquartered in Jakarta, the company operates across various business segments. These include consumer branded products, flour milling, edible oils and fats, and agribusiness.
The company is part of the Salim Group and has expanded through a combination of organic growth and strategic acquisitions. Indofood’s diverse portfolio in its consumer branded products division encompasses a wide range of offerings, including instant noodles, dairy products, snack foods, biscuits, confectionery, and flavored beverages.
As the market continues to evolve, PT Indofood Sukses Makmur Tbk remains a key entity in the Indonesian food sector, reflecting both local and regional economic trends. Investors and analysts alike will be closely monitoring the company’s performance in the coming months, especially in light of the recent changes in short interest.
