Bridgestone Corp. (OTCMKTS:BRDCY) Stock Short Interest Drops 58.5%

Bridgestone Corp. (OTCMKTS:BRDCY) was the target of a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 85,322 shares, a decrease of 58.5% from the August 31st total of 205,775 shares. Based on an average daily volume of 585,745 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. The Goldman Sachs Group cut shares of Bridgestone from a “strong-buy” rating to a “neutral” rating in a research note on Wednesday, June 17th. Sanford C. Bernstein lowered shares of Bridgestone from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Zacks Research raised shares of Bridgestone from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Bridgestone Price Performance

Bridgestone stock traded down $0.03 during trading hours on Monday, hitting $12.13. The stock had a trading volume of 84,128 shares, compared to its average volume of 279,480. Bridgestone has a 1-year low of $9.15 and a 1-year high of $13.64. The stock has a market capitalization of $31.33 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.07 and a beta of 0.54. The stock’s fifty day moving average is $12.43 and its two-hundred day moving average is $11.24. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.71 and a quick ratio of 1.83.

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.