Bridgestone Corp. (OTCMKTS:BRDCY) Sees Large Increase in Short Interest

Bridgestone Corp. (OTCMKTS:BRDCY) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 205,775 shares, a growth of 190.5% from the August 15th total of 70,826 shares. Based on an average daily volume of 427,362 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.0% of the company’s shares are short sold.

Bridgestone Stock Up 1.1%

Bridgestone stock opened at $12.23 on Friday. The company has a market capitalization of $32.63 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.08 and a beta of 0.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 2.71. Bridgestone has a fifty-two week low of $9.15 and a fifty-two week high of $13.64. The firm has a 50 day moving average price of $12.27 and a 200 day moving average price of $11.21.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Sanford C. Bernstein cut Bridgestone from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 12th. Zacks Research upgraded shares of Bridgestone from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Finally, The Goldman Sachs Group cut shares of Bridgestone from a “strong-buy” rating to a “neutral” rating in a research report on Wednesday, June 17th. Two analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Bridgestone Company Profile

Bridgestone Corporation is a Japan-based manufacturer of tires and rubber-related products. The company produces tires for passenger cars, trucks and buses, motorcycles, aircraft, agricultural equipment, construction and mining vehicles, and other specialized applications. Its portfolio includes the Bridgestone and Firestone brands, as well as other regional and specialty brands.

In addition to replacement and original-equipment tires, Bridgestone provides automotive and commercial mobility solutions, tire-related services, fleet support, and systems designed to help customers monitor and manage tire performance.