Bunge Global SA (NYSE:BG) Short Interest Update

Bunge Global SA (NYSE:BG) saw a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 3,200,000 shares, an increase of 56.1% from the October 31st total of 2,050,000 shares. Currently, 2.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,760,000 shares, the days-to-cover ratio is currently 1.8 days.

Bunge Global Trading Up 0.9 %

NYSE:BG traded up $0.76 during trading hours on Friday, hitting $89.67. The stock had a trading volume of 254,130 shares, compared to its average volume of 1,570,803. The business’s 50 day moving average is $91.46 and its 200-day moving average is $99.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07. The company has a market cap of $12.52 billion, a price-to-earnings ratio of 11.33 and a beta of 0.67. Bunge Global has a one year low of $82.18 and a one year high of $114.92.

Wall Street Analysts Forecast Growth

Separately, Citigroup lowered shares of Bunge Global from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $114.00 in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $118.00.

Institutional Trading of Bunge Global

Several hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC raised its holdings in shares of Bunge Global by 156.4% during the second quarter. SG Americas Securities LLC now owns 193,467 shares of the basic materials company’s stock worth $20,656,000 after acquiring an additional 117,998 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Bunge Global by 13.3% in the first quarter. Janus Henderson Group PLC now owns 82,036 shares of the basic materials company’s stock valued at $8,408,000 after purchasing an additional 9,648 shares during the last quarter. Xponance Inc. lifted its position in shares of Bunge Global by 39.0% in the second quarter. Xponance Inc. now owns 43,140 shares of the basic materials company’s stock worth $4,606,000 after purchasing an additional 12,104 shares in the last quarter. AMG National Trust Bank acquired a new position in Bunge Global during the second quarter worth $314,000. Finally, Cetera Investment Advisers grew its position in Bunge Global by 273.1% in the first quarter. Cetera Investment Advisers now owns 18,699 shares of the basic materials company’s stock valued at $1,917,000 after purchasing an additional 13,687 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

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.