Bunge Global SA (NYSE:BG) Short Interest Update

Bunge Global SA (NYSE:BG) was the target of a significant growth in short interest in November. As of November 15th, there was short interest totalling 3,200,000 shares, a growth of 56.1% from the October 31st total of 2,050,000 shares. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is currently 1.8 days. Currently, 2.3% of the company’s stock are short sold.

Hedge Funds Weigh In On Bunge Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. lifted its stake in shares of Bunge Global by 26.5% during the 2nd quarter. Pacer Advisors Inc. now owns 4,211,052 shares of the basic materials company’s stock worth $449,614,000 after buying an additional 883,127 shares during the last quarter. Millennium Management LLC lifted its position in Bunge Global by 12,617.1% during the second quarter. Millennium Management LLC now owns 885,617 shares of the basic materials company’s stock worth $94,557,000 after acquiring an additional 878,653 shares during the last quarter. Ilex Capital Partners UK LLP acquired a new position in shares of Bunge Global in the third quarter valued at approximately $54,330,000. State Street Corp increased its stake in shares of Bunge Global by 7.6% during the third quarter. State Street Corp now owns 7,051,601 shares of the basic materials company’s stock worth $681,467,000 after purchasing an additional 500,897 shares during the period. Finally, LSV Asset Management lifted its holdings in Bunge Global by 10.7% during the 2nd quarter. LSV Asset Management now owns 2,113,229 shares of the basic materials company’s stock worth $225,629,000 after purchasing an additional 203,910 shares during the last quarter. 86.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Bunge Global Stock Performance

Shares of BG traded up $0.76 during mid-day trading on Friday, reaching $89.67. The company’s stock had a trading volume of 254,130 shares, compared to its average volume of 1,570,803. The company has a current ratio of 2.07, a quick ratio of 1.10 and a debt-to-equity ratio of 0.43. Bunge Global has a 1-year low of $82.18 and a 1-year high of $114.92. The business has a 50-day simple moving average of $91.46 and a two-hundred day simple moving average of $99.46. The stock has a market cap of $12.52 billion, a P/E ratio of 11.33 and a beta of 0.67.

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.