Bunge Global SA (NYSE:BG) Sees Large Increase in Short Interest

Bunge Global SA (NYSE:BG) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 4,680,000 shares, a growth of 34.5% from the December 31st total of 3,480,000 shares. Based on an average daily trading volume, of 1,860,000 shares, the days-to-cover ratio is presently 2.5 days. Currently, 3.4% of the shares of the stock are short sold.

Bunge Global Trading Down 0.1 %

Bunge Global stock traded down $0.10 during trading on Thursday, reaching $78.12. The company had a trading volume of 115,948 shares, compared to its average volume of 1,318,509. Bunge Global has a 12-month low of $75.75 and a 12-month high of $114.92. The stock’s 50 day moving average price is $81.52 and its two-hundred day moving average price is $91.60. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of 9.89 and a beta of 0.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.07.

Wall Street Analyst Weigh In

A number of research firms recently commented on BG. Barclays downgraded shares of Bunge Global from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $115.00 to $95.00 in a report on Tuesday, January 21st. Stephens raised Bunge Global to a “strong-buy” rating in a research report on Monday, December 2nd. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $116.33.

Hedge Funds Weigh In On Bunge Global

A number of large investors have recently modified their holdings of the company. Franklin Resources Inc. increased its position in Bunge Global by 16.9% during the 3rd quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company’s stock worth $26,371,000 after purchasing an additional 39,646 shares in the last quarter. Swedbank AB grew its stake in Bunge Global by 11.9% during the third quarter. Swedbank AB now owns 143,534 shares of the basic materials company’s stock worth $13,871,000 after buying an additional 15,241 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in shares of Bunge Global by 7.7% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company’s stock worth $302,000 after acquiring an additional 278 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Bunge Global in the 3rd quarter valued at $888,000. Finally, State Street Corp lifted its holdings in shares of Bunge Global by 7.6% during the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock valued at $681,467,000 after acquiring an additional 500,897 shares in the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Company Profile

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.