Bridgford Foods Corporation (NASDAQ:BRID) Short Interest Down 15.4% in March

Bridgford Foods Corporation (NASDAQ:BRID) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 10,445 shares, a drop of 15.4% from the February 26th total of 12,353 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average trading volume of 3,116 shares, the days-to-cover ratio is presently 3.4 days.

Institutional Trading of Bridgford Foods

A hedge fund recently raised its stake in Bridgford Foods stock. Private Management Group Inc. lifted its holdings in shares of Bridgford Foods Corporation (NASDAQ:BRID) by 194.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,040 shares of the company’s stock after buying an additional 52,190 shares during the quarter. Private Management Group Inc. owned about 0.87% of Bridgford Foods worth $617,000 at the end of the most recent quarter. 4.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Bridgford Foods Stock Performance

Shares of BRID stock opened at $7.60 on Wednesday. The firm has a market cap of $69.01 million, a price-to-earnings ratio of -5.28 and a beta of -0.25. Bridgford Foods has a 52 week low of $7.00 and a 52 week high of $8.84. The firm’s 50-day simple moving average is $7.60 and its two-hundred day simple moving average is $7.76.

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

About Bridgford Foods

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.