Blue Gold Limited (NASDAQ:BGL) Sees Significant Decrease in Short Interest

Blue Gold Limited (NASDAQ:BGL) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 624,107 shares, a drop of 33.7% from the February 26th total of 941,751 shares. Based on an average daily volume of 364,409 shares, the short-interest ratio is presently 1.7 days. Currently, 2.5% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BGL. Wall Street Zen raised Blue Gold from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings reissued a “sell (e+)” rating on shares of Blue Gold in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Blue Gold Stock Up 2.7%

Shares of BGL opened at $1.14 on Friday. The stock’s 50 day moving average is $2.23 and its two-hundred day moving average is $4.62. Blue Gold has a twelve month low of $1.05 and a twelve month high of $166.50.

Institutional Investors Weigh In On Blue Gold

Institutional investors have recently made changes to their positions in the stock. HRT Financial LP acquired a new position in shares of Blue Gold during the 4th quarter worth $26,000. Jane Street Group LLC acquired a new stake in shares of Blue Gold in the fourth quarter valued at about $26,000. Quadrature Capital Ltd purchased a new stake in Blue Gold during the fourth quarter worth about $65,000. Millennium Management LLC acquired a new position in Blue Gold during the third quarter worth about $107,000. Finally, Rathbones Group PLC acquired a new position in Blue Gold during the third quarter worth about $107,000. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

About Blue Gold

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.