Bunge Global SA (NYSE:BG) Sees Large Increase in Short Interest

Bunge Global SA (NYSE:BG) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totalling 4,680,000 shares, an increase of 34.5% from the December 31st total of 3,480,000 shares. Currently, 3.4% of the company’s stock are sold short. Based on an average daily volume of 1,860,000 shares, the days-to-cover ratio is currently 2.5 days.

Bunge Global Price Performance

BG stock traded down $0.10 during trading on Thursday, hitting $78.12. The company had a trading volume of 115,948 shares, compared to its average volume of 1,318,509. The business has a 50 day moving average of $81.52 and a 200 day moving average of $91.60. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of 9.89 and a beta of 0.70. Bunge Global has a fifty-two week low of $75.75 and a fifty-two week high of $114.92. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43.

Institutional Investors Weigh In On Bunge Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BG. Spire Wealth Management acquired a new stake in Bunge Global in the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Bunge Global in the 3rd quarter worth approximately $34,000. Crews Bank & Trust acquired a new stake in Bunge Global during the fourth quarter valued at approximately $39,000. Farther Finance Advisors LLC lifted its stake in Bunge Global by 40.1% during the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 124 shares during the last quarter. Finally, R Squared Ltd bought a new stake in Bunge Global during the fourth quarter worth approximately $45,000. Institutional investors own 86.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on BG shares. Barclays downgraded shares of Bunge Global from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $115.00 to $95.00 in a research report on Tuesday, January 21st. Stephens raised Bunge Global to a “strong-buy” rating in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $116.33.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.