Bunge Global SA (NYSE:BG) Short Interest Down 15.4% in August

Bunge Global SA (NYSE:BG) saw a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 3,670,000 shares, a drop of 15.4% from the August 15th total of 4,340,000 shares. Based on an average trading volume of 1,200,000 shares, the days-to-cover ratio is presently 3.1 days. Currently, 2.6% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Bunge Global

Hedge funds have recently made changes to their positions in the stock. Private Advisor Group LLC grew its position in shares of Bunge Global by 97.8% in the 4th quarter. Private Advisor Group LLC now owns 5,033 shares of the basic materials company’s stock worth $508,000 after acquiring an additional 2,489 shares in the last quarter. QRG Capital Management Inc. bought a new stake in shares of Bunge Global during the 4th quarter worth about $509,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Bunge Global in the 4th quarter worth approximately $233,000. Norges Bank bought a new position in shares of Bunge Global in the fourth quarter valued at approximately $128,092,000. Finally, Wells Fargo & Company MN increased its stake in shares of Bunge Global by 0.9% during the fourth quarter. Wells Fargo & Company MN now owns 206,808 shares of the basic materials company’s stock valued at $20,877,000 after acquiring an additional 1,788 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Up 0.0 %

Shares of NYSE:BG traded up $0.02 during mid-day trading on Wednesday, hitting $97.71. 1,045,705 shares of the company traded hands, compared to its average volume of 1,457,606. The firm’s 50 day simple moving average is $102.33 and its 200 day simple moving average is $103.00. The firm has a market cap of $13.84 billion, a P/E ratio of 7.87 and a beta of 0.65. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.97 and a current ratio of 2.03. Bunge Global has a 52-week low of $86.10 and a 52-week high of $114.92.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.06). The firm had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The company’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.72 EPS. On average, equities analysts anticipate that Bunge Global will post 9.3 EPS for the current year.

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.