Short Interest in Bridgford Foods Co. (NASDAQ:BRID) Drops By 13.5%

Bridgford Foods Co. (NASDAQ:BRID) was the recipient of a significant decrease in short interest during the month of December. As of December 31st, there was short interest totalling 24,400 shares, a decrease of 13.5% from the December 15th total of 28,200 shares. Currently, 1.5% of the company’s stock are short sold. Based on an average daily trading volume, of 7,000 shares, the days-to-cover ratio is presently 3.5 days.

NASDAQ BRID opened at $28.14 on Tuesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.60 and a quick ratio of 1.45. Bridgford Foods has a 1 year low of $20.85 and a 1 year high of $38.00. The company has a market capitalization of $250.88 million, a PE ratio of 34.55 and a beta of 1.04. The company has a fifty day moving average of $25.30 and a two-hundred day moving average of $29.78.

Separately, ValuEngine lowered Bridgford Foods from a “hold” rating to a “sell” rating in a report on Friday.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System boosted its stake in Bridgford Foods by 7.8% in the third quarter. California Public Employees Retirement System now owns 20,127 shares of the company’s stock valued at $607,000 after acquiring an additional 1,455 shares in the last quarter. Northern Trust Corp boosted its stake in Bridgford Foods by 11.0% in the second quarter. Northern Trust Corp now owns 15,800 shares of the company’s stock valued at $470,000 after acquiring an additional 1,571 shares in the last quarter. State Street Corp boosted its stake in Bridgford Foods by 27.9% in the third quarter. State Street Corp now owns 19,332 shares of the company’s stock valued at $583,000 after acquiring an additional 4,214 shares in the last quarter. Vanguard Group Inc. boosted its stake in Bridgford Foods by 42.6% in the second quarter. Vanguard Group Inc. now owns 23,670 shares of the company’s stock valued at $705,000 after acquiring an additional 7,069 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Bridgford Foods by 7,151.6% in the second quarter. BlackRock Inc. now owns 72,516 shares of the company’s stock valued at $2,157,000 after acquiring an additional 71,516 shares in the last quarter. Institutional investors own 7.17% of the company’s stock.

About Bridgford Foods

Bridgford Foods Corporation, together with its subsidiaries, manufactures, markets, and distributes frozen, refrigerated, and snack food products in the United States. The company operates in two segments, Frozen Food Products and Snack Food Products. It primarily offers biscuits, bread dough items, roll dough items, and dry sausage and beef jerky products.

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