Short Interest in Bunge Global SA (NYSE:BG) Grows By 34.5%

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

Analysts Set New Price Targets

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

Bunge Global Stock Performance

Bunge Global stock opened at $79.53 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.07 and a quick ratio of 1.10. Bunge Global has a 12 month low of $75.75 and a 12 month high of $114.92. The company has a market cap of $11.11 billion, a price-to-earnings ratio of 10.07 and a beta of 0.70. The stock’s 50-day moving average is $83.19 and its 200-day moving average is $93.50.

Institutional Investors Weigh In On Bunge Global

Several institutional investors and hedge funds have recently bought and sold shares of BG. Pacer Advisors Inc. increased its holdings in shares of 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 worth $449,614,000 after acquiring an additional 883,127 shares during the period. Millennium Management LLC raised its stake in shares of 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 valued at $94,557,000 after purchasing an additional 878,653 shares in the last quarter. Ilex Capital Partners UK LLP bought a new position in Bunge Global in the 3rd quarter valued at about $54,330,000. State Street Corp increased its stake in Bunge Global by 7.6% during the 3rd 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, SG Americas Securities LLC lifted its stake in shares of Bunge Global by 173.5% in the 4th quarter. SG Americas Securities LLC now owns 302,692 shares of the basic materials company’s stock worth $23,537,000 after acquiring an additional 191,999 shares during the period. Institutional investors and hedge funds 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.