Short Interest in Bridgford Foods Corporation (NASDAQ:BRID) Drops By 15.4%

Bridgford Foods Corporation (NASDAQ:BRID) was the recipient of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 10,445 shares, a decline of 15.4% from the February 26th total of 12,353 shares. Based on an average daily trading volume, of 3,116 shares, the days-to-cover ratio is currently 3.4 days. Currently, 0.6% of the company’s stock are sold short.

Hedge Funds Weigh In On Bridgford Foods

A hedge fund recently bought a new stake in Bridgford Foods stock. Private Management Group Inc. acquired a new stake in shares of Bridgford Foods Corporation (NASDAQ:BRID) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 26,850 shares of the company’s stock, valued at approximately $213,000. Private Management Group Inc. owned 0.30% of Bridgford Foods at the end of the most recent quarter. 4.68% of the stock is owned by institutional investors.

Bridgford Foods Trading Down 1.8%

NASDAQ:BRID opened at $7.46 on Thursday. The company has a market cap of $67.74 million, a PE ratio of -5.18 and a beta of -0.27. Bridgford Foods has a twelve month low of $7.00 and a twelve month high of $8.84. The company’s 50 day moving average is $7.58 and its two-hundred day moving average is $7.76.

Bridgford Foods (NASDAQ:BRID) last posted its quarterly earnings results on Friday, March 6th. The company reported ($0.09) earnings per share (EPS) for the quarter. Bridgford Foods had a negative return on equity of 11.02% and a negative net margin of 5.60%.The company had revenue of $55.31 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Bridgford Foods in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Bridgford Foods Company Profile

Bridgford Foods Corporation is a U.S.-based producer and distributor of specialty baked goods and snack products. The company manufactures a range of ready-to-heat and shelf-stable items, including sandwich rolls, hot dog buns, bagels, English muffins, pizza crusts, tortillas and flatbreads. In addition to its branded offerings, Bridgford Foods provides private-label manufacturing for foodservice operators, retail grocers and specialty distributors, positioning itself as a versatile supplier in both consumer and commercial channels.

Operating through distinct Retail and Foodservice segments, Bridgford Foods serves national grocery chains, club stores, convenience markets and institutional customers.