Bunge Global SA (NYSE:BG) Short Interest Up 40.7% in February

Bunge Global SA (NYSE:BG) was the target of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 5,190,000 shares, a growth of 40.7% from the January 31st total of 3,690,000 shares. Approximately 3.9% of the shares of the stock are short sold. Based on an average trading volume of 1,650,000 shares, the days-to-cover ratio is currently 3.1 days.

Institutional Investors Weigh In On Bunge Global

Institutional investors and hedge funds have recently made changes to their positions in the stock. Siemens Fonds Invest GmbH bought a new stake in shares of Bunge Global in the 4th quarter valued at $1,596,000. Menard Financial Group LLC bought a new stake in Bunge Global during the fourth quarter worth $47,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Bunge Global in the fourth quarter valued at approximately $12,393,000. Jefferies Financial Group Inc. raised its stake in shares of Bunge Global by 43.5% during the 4th quarter. Jefferies Financial Group Inc. now owns 20,143 shares of the basic materials company’s stock worth $1,566,000 after purchasing an additional 6,106 shares during the period. Finally, Mackenzie Financial Corp grew its position in shares of Bunge Global by 14.0% during the 4th quarter. Mackenzie Financial Corp now owns 39,056 shares of the basic materials company’s stock valued at $3,037,000 after acquiring an additional 4,787 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.

Bunge Global Stock Performance

Shares of BG stock traded down $0.14 on Wednesday, reaching $71.57. The stock had a trading volume of 278,933 shares, compared to its average volume of 1,486,385. Bunge Global has a 12 month low of $67.40 and a 12 month high of $114.92. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 8.86, a P/E/G ratio of 2.66 and a beta of 0.69. The firm’s 50-day moving average is $75.42 and its two-hundred day moving average is $85.97. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43.

Bunge Global (NYSE:BG) last announced its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. On average, research analysts expect that Bunge Global will post 7.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

BG has been the topic of several recent analyst reports. Barclays dropped their price target on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 6th. Morgan Stanley cut their target price on shares of Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Stephens lowered their price objective on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Finally, Bank of America dropped their target price on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

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.