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

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on BRDCY. Sanford C. Bernstein cut Bridgestone from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Zacks Research upgraded shares of Bridgestone from a “hold” rating to a “strong-buy” rating in a research 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 note on Wednesday, June 17th. Two equities research analysts have rated the stock with a Strong Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy”.

Bridgestone Stock Performance

OTCMKTS:BRDCY traded down $0.03 during mid-day trading on Monday, reaching $12.13. The stock had a trading volume of 84,128 shares, compared to its average volume of 279,480. Bridgestone has a twelve month low of $9.15 and a twelve month high of $13.64. The business has a 50 day simple moving average of $12.43 and a 200 day simple moving average of $11.24. The firm 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 company has a debt-to-equity ratio of 0.18, a quick ratio of 1.83 and a current ratio of 2.71.

About Bridgestone

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.