Bunge Global SA (NYSE:BG) Sees Significant Growth in Short Interest

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

Wall Street Analysts Forecast Growth

Separately, Stephens raised Bunge Global to a “strong-buy” rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, five 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 an average rating of “Moderate Buy” and an average price target of $118.00.

Bunge Global Stock Down 1.9 %

BG stock traded down $1.52 during mid-day trading on Thursday, reaching $78.92. The company had a trading volume of 944,490 shares, compared to its average volume of 1,333,170. The company has a market capitalization of $11.02 billion, a price-to-earnings ratio of 9.99 and a beta of 0.70. Bunge Global has a 52 week low of $75.75 and a 52 week high of $114.92. The stock has a 50 day simple moving average of $83.49 and a two-hundred day simple moving average of $93.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Xponance Inc. raised its position in shares of Bunge Global by 39.0% in the second quarter. Xponance Inc. now owns 43,140 shares of the basic materials company’s stock valued at $4,606,000 after purchasing an additional 12,104 shares during the period. Swedbank AB raised its holdings in Bunge Global by 11.9% in the 3rd quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock valued at $13,871,000 after acquiring an additional 15,241 shares during the period. Franklin Resources Inc. raised its holdings in Bunge Global by 16.9% in the 3rd quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock valued at $26,371,000 after acquiring an additional 39,646 shares during the period. iA Global Asset Management Inc. acquired a new stake in Bunge Global during the third quarter worth approximately $888,000. Finally, Amalgamated Bank boosted its holdings in shares of Bunge Global by 14.4% during the second quarter. Amalgamated Bank now owns 46,037 shares of the basic materials company’s stock worth $4,915,000 after acquiring an additional 5,781 shares during the period. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Company Profile

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.