Bridgestone Corp. (OTCMKTS:BRDCY) Sees Significant Drop in Short Interest

Key Points

• Bridgestone’s short interest fell 52.4% to 66,422 shares as of October 15, down from 139,604 shares at the end of September. Short interest represents approximately 0.0% of shares outstanding, with a days-to-cover ratio of 0.3.
• Analysts have recently downgraded Bridgestone from “strong buy” to “hold,” and all four tracked analysts now rate the stock Hold, resulting in a consensus Hold rating.
• BRDCY shares slipped 0.1% to $12.40 in mid-day trading. The stock has a market capitalization of $32.03 billion and has traded between $9.15 and $13.64 over the past 52 weeks.

Bridgestone Corp. (OTCMKTS:BRDCY - Get Free Report) saw a significant decrease in short interest in the month of October. As of October 15th, there was short interest totaling 66,422 shares, a decrease of 52.4% from the September 30th total of 139,604 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 203,243 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Zacks Research cut Bridgestone from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Sanford C. Bernstein cut Bridgestone from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 12th. Four research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Bridgestone Trading Down 0.1%

Shares of BRDCY stock traded down $0.01 during mid-day trading on Friday, hitting $12.40. The company's stock had a trading volume of 349,945 shares, compared to its average volume of 264,194. The company has a market cap of $32.03 billion, a PE ratio of 19.38, a P/E/G ratio of 1.09 and a beta of 0.57. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.92 and a current ratio of 2.78. The company's fifty day simple moving average is $12.41 and its 200-day simple moving average is $11.44. Bridgestone has a 52 week low of $9.15 and a 52 week high of $13.64.

Bridgestone Company Profile

Bridgestone Corporation is a Japan-based manufacturer of tires and rubber-related products. The company develops and sells tires for passenger cars, trucks, buses, motorcycles, aircraft, construction equipment, mining vehicles, agricultural machinery and other specialty applications. Its portfolio also includes retreaded tires and related services designed to support commercial and industrial fleets.

Founded in 1931 by Shojiro Ishibashi, Bridgestone has grown into a global mobility and materials company.

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