Blue Gold Limited (NASDAQ:BGL) Short Interest Down 57.1% in July

Blue Gold Limited (NASDAQ:BGL) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 205,979 shares, a drop of 57.1% from the July 15th total of 480,265 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 316,816 shares, the short-interest ratio is presently 0.7 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e)” rating on shares of Blue Gold in a report on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock has a consensus rating of “Sell”.

Blue Gold Price Performance

Shares of BGL traded up $0.01 on Monday, hitting $0.22. The company’s stock had a trading volume of 394,632 shares, compared to its average volume of 967,789. The firm’s fifty day moving average price is $0.28 and its 200-day moving average price is $1.08. Blue Gold has a fifty-two week low of $0.18 and a fifty-two week high of $14.20.

Hedge Funds Weigh In On Blue Gold

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp bought a new position in Blue Gold during the 3rd quarter worth about $4,202,000. Marshall Wace LLP grew its holdings in shares of Blue Gold by 195.3% during the fourth quarter. Marshall Wace LLP now owns 82,957 shares of the company’s stock worth $159,000 after buying an additional 54,868 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Blue Gold in the 4th quarter valued at approximately $65,000. Qube Research & Technologies Ltd bought a new stake in Blue Gold in the 3rd quarter valued at approximately $303,000. Finally, Renaissance Technologies LLC acquired a new position in Blue Gold during the 1st quarter worth approximately $35,000. 24.62% of the stock is owned by institutional investors and hedge funds.

Blue Gold Company Profile

Blue Gold Limited is a gold mining company developing a portfolio of assets anchored by the historic Bogoso Prestea Mine in the Ashanti region of Ghana. Blue Gold Limited, formerly known as Perception Capital Corp. IV, is based in NEW YORK.