Bunge Global SA (NYSE:BG) Short Interest Update

Bunge Global SA (NYSE:BG) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 3,670,000 shares, a drop of 15.4% from the August 15th total of 4,340,000 shares. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is presently 3.1 days. Approximately 2.6% of the company’s stock are sold short.

Institutional Investors Weigh In On Bunge Global

Several hedge funds and other institutional investors have recently made changes to their positions in BG. SteelPeak Wealth LLC acquired a new stake in Bunge Global during the 1st quarter worth $2,137,000. Avantax Advisory Services Inc. purchased a new position in shares of Bunge Global during the first quarter worth about $899,000. Chevy Chase Trust Holdings LLC increased its position in shares of Bunge Global by 2,975.7% during the first quarter. Chevy Chase Trust Holdings LLC now owns 80,460 shares of the basic materials company’s stock worth $8,249,000 after purchasing an additional 77,844 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Bunge Global by 17.9% in the 1st quarter. Bleakley Financial Group LLC now owns 41,422 shares of the basic materials company’s stock valued at $4,247,000 after purchasing an additional 6,281 shares during the last quarter. Finally, AdvisorNet Financial Inc boosted its position in shares of Bunge Global by 22,962.5% in the 1st quarter. AdvisorNet Financial Inc now owns 7,380 shares of the basic materials company’s stock valued at $757,000 after purchasing an additional 7,348 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Down 0.1 %

NYSE BG traded down $0.09 on Monday, hitting $97.29. 992,538 shares of the stock were exchanged, compared to its average volume of 1,463,774. Bunge Global has a fifty-two week low of $86.10 and a fifty-two week high of $114.92. The company has a 50-day moving average price of $102.83 and a 200-day moving average price of $102.95. The company has a quick ratio of 0.97, a current ratio of 2.03 and a debt-to-equity ratio of 0.37. The company has a market cap of $13.78 billion, a PE ratio of 7.80 and a beta of 0.65.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). Bunge Global had a return on equity of 14.84% and a net margin of 2.33%. The firm had revenue of $13.24 billion for the quarter, compared to analyst estimates of $14.30 billion. During the same quarter in the previous year, the firm posted $3.72 EPS. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. Sell-side analysts anticipate that Bunge Global will post 9.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Citigroup downgraded shares of Bunge Global from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $125.00 to $114.00 in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $118.00.

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.