Bridgestone Corp. (OTCMKTS:BRDCY) Short Interest Down 52.6% in July

Bridgestone Corp. (OTCMKTS:BRDCY) was the recipient of a large drop in short interest in July. As of July 31st, there was short interest totaling 86,052 shares, a drop of 52.6% from the July 15th total of 181,513 shares. Based on an average daily volume of 291,532 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.0% of the company’s stock are sold short.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BRDCY shares. Sanford C. Bernstein downgraded shares of Bridgestone from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 12th. Zacks Research upgraded shares of Bridgestone from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, The Goldman Sachs Group lowered shares of Bridgestone from a “strong-buy” rating to a “neutral” rating in a report 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Bridgestone Stock Performance

Shares of OTCMKTS:BRDCY opened at $12.84 on Monday. The company has a quick ratio of 1.83, a current ratio of 2.71 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $11.45 and its 200 day moving average price is $11.08. The company has a market cap of $34.26 billion, a PE ratio of 20.06, a P/E/G ratio of 1.18 and a beta of 0.54. Bridgestone has a fifty-two week low of $9.15 and a fifty-two week high of $13.64.

Bridgestone (OTCMKTS:BRDCY) last posted its earnings results on Thursday, May 14th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.87 billion. Sell-side analysts anticipate that Bridgestone will post 0.89 earnings per share for the current year.

About Bridgestone

Bridgestone Corporation is a Japanese multinational company principally engaged in the design, manufacture and sale of tires and rubber products. Founded in 1931 by Shojiro Ishibashi and headquartered in Tokyo, the company has grown into one of the world’s largest tire manufacturers, offering products for a broad range of vehicles and applications.

The company’s core offerings include tires for passenger cars, motorcycles, commercial trucks and buses, agricultural and off‑the‑road equipment, and aircraft.