Bright Green Co. (NASDAQ:BGXX) Short Interest Update

Bright Green Co. (NASDAQ:BGXX) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 736,800 shares, an increase of 60.5% from the July 15th total of 459,000 shares. Based on an average daily volume of 1,550,000 shares, the days-to-cover ratio is currently 0.5 days. Currently, 1.0% of the company’s stock are sold short.

Bright Green Price Performance

Shares of NASDAQ BGXX traded down $0.01 during mid-day trading on Wednesday, reaching $0.25. The company had a trading volume of 93,852 shares, compared to its average volume of 1,577,698. The company has a 50-day moving average price of $0.27 and a two-hundred day moving average price of $0.24. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.01. The stock has a market cap of $46.61 million, a PE ratio of -3.44 and a beta of 0.67. Bright Green has a 1-year low of $0.15 and a 1-year high of $0.90.

Bright Green (NASDAQ:BGXX) last released its quarterly earnings data on Monday, May 20th. The company reported ($0.01) earnings per share for the quarter.

Insider Activity

In other Bright Green news, Director Lynn Stockwell sold 1,000,000 shares of the company’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $0.36, for a total value of $360,000.00. Following the completion of the transaction, the director now owns 68,183,658 shares in the company, valued at approximately $24,546,116.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 51.38% of the company’s stock.

Institutional Trading of Bright Green

An institutional investor recently raised its position in Bright Green stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Bright Green Co. (NASDAQ:BGXX) by 34.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,488,534 shares of the company’s stock after purchasing an additional 893,636 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 1.90% of Bright Green worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 7.83% of the company’s stock.

About Bright Green

Bright Green Corporation focuses on the cultivation, manufacture, and sale of cannabis and cannabis-related products. Its products are used in research, pharmaceutical applications, and affiliated exports. The company was incorporated in 2019 and is based in Grants, New Mexico.