Bridgestone Corp. (OTCMKTS:BRDCY) Short Interest Up 190.5% in August

Bridgestone Corp. (OTCMKTS:BRDCY) was the recipient of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 205,775 shares, an increase 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 presently 0.5 days. Approximately 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

Several brokerages have issued reports on BRDCY. Sanford C. Bernstein cut shares of Bridgestone from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 12th. Zacks Research raised 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 cut shares of Bridgestone from a “strong-buy” rating to a “neutral” rating in a research note on Wednesday, June 17th. Two research analysts have rated the stock with a Strong Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Bridgestone Stock Up 1.1%

Shares of OTCMKTS:BRDCY opened at $12.23 on Friday. 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 business has a fifty day moving average of $12.27 and a two-hundred day moving average of $11.21. The stock has a market cap of $32.63 billion, a P/E ratio of 19.11, a PEG ratio of 1.08 and a beta of 0.54. Bridgestone has a 52-week low of $9.15 and a 52-week high of $13.64.

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.