Short Interest in Blue Gold Limited (NASDAQ:BGL) Grows By 70.7%

Blue Gold Limited (NASDAQ:BGL) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 263,805 shares, a growth of 70.7% from the May 31st total of 154,522 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 343,617 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Investors Weigh In On Blue Gold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BGL. HRT Financial LP bought a new stake in shares of Blue Gold in the 4th quarter valued at approximately $26,000. Jane Street Group LLC bought a new position in shares of Blue Gold during the 4th quarter valued at approximately $26,000. Renaissance Technologies LLC bought a new position in shares of Blue Gold during the 1st quarter valued at approximately $35,000. Quadrature Capital Ltd purchased a new stake in Blue Gold during the 4th quarter valued at $65,000. Finally, Rathbones Group PLC purchased a new stake in Blue Gold during the 3rd quarter valued at $107,000. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Blue Gold from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Blue Gold currently has a consensus rating of “Sell”.

Blue Gold Price Performance

BGL stock traded down $0.01 during trading on Thursday, hitting $0.28. 162,498 shares of the company’s stock traded hands, compared to its average volume of 1,109,123. Blue Gold has a 52 week low of $0.24 and a 52 week high of $161.00. The business has a fifty day simple moving average of $0.73 and a 200 day simple moving average of $1.62.

Blue Gold (NASDAQ:BGL) last announced its earnings results on Wednesday, April 29th. The company reported ($0.48) earnings per share (EPS) for the quarter. Analysts anticipate that Blue Gold will post -0.21 earnings per share for the current fiscal year.

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.