Blue Gold Limited (NASDAQ:BGL) Short Interest Up 85.7% in June

Blue Gold Limited (NASDAQ:BGL) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totaling 489,783 shares, an increase of 85.7% from the June 15th total of 263,805 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average trading volume of 2,825,909 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC acquired a new stake in shares of Blue Gold during the third quarter worth $107,000. Jane Street Group LLC purchased a new stake in shares of Blue Gold during the fourth quarter valued at $26,000. HRT Financial LP acquired a new position in shares of Blue Gold in the 4th quarter valued at $26,000. Renaissance Technologies LLC acquired a new position in shares of Blue Gold in the 1st quarter valued at $35,000. Finally, Qube Research & Technologies Ltd purchased a new position in Blue Gold in the 3rd quarter worth $303,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Blue Gold Stock Performance

Shares of BGL stock opened at $0.22 on Friday. Blue Gold has a fifty-two week low of $0.21 and a fifty-two week high of $21.58. The stock’s 50-day simple moving average is $0.55 and its 200-day simple moving average is $1.42.

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

Analyst Upgrades and Downgrades

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

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.