Blue Gold Limited (NASDAQ:BGL) Shares Shorted: Short Interest Up 68.4% in September

Blue Gold Limited (NASDAQ:BGL) saw a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 219,904 shares, a growth of 68.4% from the September 15th total of 130,566 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average daily trading volume, of 310,182 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of Blue Gold

An institutional investor recently bought a new stake in Blue Gold stock. Renaissance Technologies LLC acquired a new position in shares of Blue Gold Limited (NASDAQ:BGL) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 29,254 shares of the company’s stock, valued at approximately $35,000. Renaissance Technologies LLC owned 0.09% of Blue Gold at the end of the most recent quarter. Institutional investors own 24.62% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Blue Gold from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company has an average rating of “Sell”.

Blue Gold Trading Down 9.8%

BGL opened at $0.13 on Friday. The firm’s fifty day moving average is $0.20 and its two-hundred day moving average is $0.49. Blue Gold has a twelve month low of $0.12 and a twelve month high of $10.58.

Blue Gold (NASDAQ:BGL) last announced its quarterly earnings results on Thursday, October 8th. The company reported ($0.12) earnings per share for the quarter. As a group, equities analysts expect that Blue Gold will post -0.21 earnings per share for the current year.

Blue Gold Company Profile

Blue Gold Limited is an exploration-stage mining company focused on the acquisition, exploration and potential development of mineral properties. The company’s activities are centered on identifying and evaluating prospective gold and other mineral resources rather than operating producing mines.

Blue Gold’s mineral exploration interests are located in Mongolia, where it conducts geological studies, exploration programs and related project-development activities. The company’s future operations and business prospects depend on the results of exploration, the delineation of economically recoverable resources and the ability to obtain required permits and financing.

Publicly available information provides limited detail about Blue Gold’s operating history, leadership team and specific products beyond its mineral exploration properties.