Basel Medical Group Ltd (NASDAQ:BMGL) Sees Large Decline in Short Interest

Basel Medical Group Ltd (NASDAQ:BMGL) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totaling 12,662 shares, a drop of 96.0% from the June 15th total of 314,368 shares. Based on an average trading volume of 12,536 shares, the short-interest ratio is currently 1.0 days. Approximately 0.8% of the company’s stock are sold short.

Institutional Trading of Basel Medical Group

Several institutional investors have recently bought and sold shares of BMGL. Marex Group plc bought a new stake in Basel Medical Group during the 2nd quarter valued at about $25,000. Virtu Financial LLC lifted its stake in shares of Basel Medical Group by 108.8% in the third quarter. Virtu Financial LLC now owns 33,786 shares of the company’s stock worth $61,000 after buying an additional 17,608 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Basel Medical Group in the third quarter worth approximately $169,000.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Basel Medical Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Basel Medical Group Stock Down 0.2%

NASDAQ:BMGL traded down $0.01 during trading hours on Friday, reaching $6.61. 6,461 shares of the company traded hands, compared to its average volume of 22,461. The business’s 50-day moving average price is $7.38 and its two-hundred day moving average price is $7.58. Basel Medical Group has a 1 year low of $4.60 and a 1 year high of $54.60. The company has a quick ratio of 1.83, a current ratio of 1.88 and a debt-to-equity ratio of 0.93.

Basel Medical Group (NASDAQ:BMGL) last released its earnings results on Friday, June 26th. The company reported $0.01 EPS for the quarter. The company had revenue of $3.21 million during the quarter.

About Basel Medical Group

Basel Medical Group Ltd. is an investment holding company, which engages in providing orthopedic surgeries, medical care, and diagnosis services. Its services include orthopedic surgeries, medical care, rehabilitative therapy, physiotherapy, non-surgical treatments, medical diagnosis, magnetic resonance imaging, general surgery, x-ray, lump removal, sports medicine, and total hip replacement. The company was founded by Man Hing Yip on August 10, 2023 and is headquartered in Singapore.