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

Bunge Global SA (NYSE:BG) saw a large drop in short interest during 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 short-interest ratio is currently 3.1 days. Currently, 2.6% of the shares of the company are sold short.

Bunge Global Price Performance

Shares of NYSE:BG traded down $0.09 during trading on Monday, reaching $97.29. The stock had a trading volume of 992,538 shares, compared to its average volume of 1,463,774. 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 1-year low of $86.10 and a 1-year high of $114.92. The stock has a market cap of $13.78 billion, a PE ratio of 7.80 and a beta of 0.65. The business has a fifty day moving average price of $102.83 and a 200-day moving average price of $102.95.

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

Wall Street Analysts Forecast Growth

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

Institutional Trading of Bunge Global

Hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Bunge Global during the 2nd quarter worth about $28,000. Blue Trust Inc. boosted its stake in Bunge Global by 52.3% during the second quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock worth $30,000 after buying an additional 102 shares during the period. Farmers & Merchants Investments Inc. increased its position in shares of Bunge Global by 185.2% during the second quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 200 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Bunge Global in the 2nd quarter valued at approximately $40,000. Finally, Atlas Capital Advisors LLC lifted its holdings in shares of Bunge Global by 261.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 277 shares during the last quarter. Hedge funds and other institutional investors own 86.23% of the company’s stock.

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.