Bunge Global SA (NYSE:BG) Short Interest Up 40.7% in February

Bunge Global SA (NYSE:BG) saw a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 5,190,000 shares, a growth of 40.7% from the January 31st total of 3,690,000 shares. Based on an average daily volume of 1,650,000 shares, the short-interest ratio is presently 3.1 days. Currently, 3.9% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several research firms have issued reports on BG. Stephens decreased their price target on shares of Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Bank of America cut their price target on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Barclays cut their price target on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Finally, Morgan Stanley dropped their price objective on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Bunge Global Stock Down 0.3 %

BG traded down $0.21 during trading on Tuesday, hitting $71.62. The company had a trading volume of 2,103,302 shares, compared to its average volume of 1,491,445. The company has a market cap of $9.59 billion, a PE ratio of 8.86, a P/E/G ratio of 2.66 and a beta of 0.69. The business has a 50-day moving average of $75.42 and a 200-day moving average of $85.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. Bunge Global has a 1-year low of $67.40 and a 1-year high of $114.92.

Bunge Global (NYSE:BG) last posted its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. As a group, analysts forecast that Bunge Global will post 7.94 earnings per share for the current year.

Institutional Trading of Bunge Global

Institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management bought a new stake in Bunge Global during the fourth quarter valued at $26,000. Wilmington Savings Fund Society FSB bought a new position in shares of Bunge Global during the third quarter worth about $34,000. Crews Bank & Trust acquired a new stake in Bunge Global in the fourth quarter worth about $39,000. Farther Finance Advisors LLC lifted its holdings in Bunge Global by 40.1% in the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 124 shares during the period. Finally, R Squared Ltd acquired a new stake in Bunge Global in the fourth quarter worth about $45,000. Institutional investors own 86.23% of the company’s stock.

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.