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

Bunge Global SA (NYSE:BG) saw a significant increase in short interest in the month of December. As of December 31st, there was short interest totalling 4,680,000 shares, an increase of 34.5% from the December 15th total of 3,480,000 shares. Approximately 3.4% of the shares of the company are short sold. Based on an average trading volume of 1,860,000 shares, the short-interest ratio is presently 2.5 days.

Wall Street Analyst Weigh In

Separately, Stephens upgraded shares of Bunge Global to a “strong-buy” rating in a research report on Monday, December 2nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $118.00.

Bunge Global Stock Down 1.9 %

Shares of BG traded down $1.52 during mid-day trading on Thursday, hitting $78.92. 944,490 shares of the company’s stock were exchanged, compared to its average volume of 1,333,170. The company has a quick ratio of 1.10, a current ratio of 2.07 and a debt-to-equity ratio of 0.43. Bunge Global has a twelve month low of $75.75 and a twelve month high of $114.92. The firm has a fifty day moving average of $83.49 and a two-hundred day moving average of $93.79. The stock has a market cap of $11.02 billion, a price-to-earnings ratio of 9.99 and a beta of 0.70.

Hedge Funds Weigh In On Bunge Global

Institutional investors have recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in Bunge Global by 26.5% in the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock valued at $449,614,000 after buying an additional 883,127 shares during the last quarter. Millennium Management LLC increased its stake in shares of Bunge Global by 12,617.1% in the second quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock worth $94,557,000 after purchasing an additional 878,653 shares during the period. Ilex Capital Partners UK LLP acquired a new position in Bunge Global during the 3rd quarter valued at $54,330,000. State Street Corp lifted its stake in shares of Bunge Global by 7.6% in the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock valued at $681,467,000 after buying an additional 500,897 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Bunge Global by 23.4% during the 2nd quarter. AQR Capital Management LLC now owns 970,083 shares of the basic materials company’s stock worth $103,576,000 after purchasing an additional 184,245 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors.

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.