PT Indofood Sukses Makmur Tbk saw a notable decrease in short interest during December 2023. As of December 15, the total short interest stood at 750 shares, reflecting a significant drop of 32.2% from the 1,106 shares reported on November 30. This decline indicates a shift in market sentiment, with the current short-interest ratio calculated at 0.5 days based on an average daily volume of 1,400 shares.
The stock of PT Indofood Sukses Makmur Tbk performed moderately during trading on Tuesday, December 19, declining by $1.42 to close at $20.39. A total of 6,029 shares changed hands, surpassing the average trading volume of 946 shares. The company’s stock has experienced fluctuations over the past year, with a 12-month low of $19.41 and a high of $27.81. The 50-day moving average stands at $21.68, while the 200-day moving average is at $23.09.
About PT Indofood Sukses Makmur Tbk
Founded in 1990 and based in Jakarta, PT Indofood Sukses Makmur Tbk is one of the largest food producers in the world, particularly renowned for its instant noodle offerings. The company operates across various segments, including consumer branded products, flour milling, edible oils and fats, and agribusiness.
As a member of the Salim Group, Indofood has achieved substantial growth through both organic strategies and targeted acquisitions. Its consumer branded products division encompasses a wide range of items, from instant noodles and dairy products to snack foods, biscuits, confectionery, and flavored beverages.
Indofood’s strong market presence and diverse product portfolio underscore its leadership position within the regional food industry, prompting continued interest from investors and analysts alike.
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