Short Interest in Bunge Global SA (NYSE:BG) Expands By 13.5%

Bunge Global SA (NYSE:BG) was the recipient of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 5,900,000 shares, a growth of 13.5% from the March 31st total of 5,200,000 shares. Based on an average daily volume of 1,790,000 shares, the short-interest ratio is currently 3.3 days.

Wall Street Analysts Forecast Growth

BG has been the subject of a number of research reports. BMO Capital Markets dropped their price target on Bunge Global from $130.00 to $120.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. The Goldman Sachs Group lowered their price objective on Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a research report on Tuesday, February 13th. Barclays lowered their price objective on Bunge Global from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, January 23rd. Roth Mkm lowered their price objective on Bunge Global from $161.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Finally, Citigroup lifted their price objective on Bunge Global from $117.00 to $122.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Four equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Bunge Global presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Institutional Trading of Bunge Global

A number of institutional investors have recently modified their holdings of BG. Loomis Sayles & Co. L P raised its stake in Bunge Global by 169.8% in the third quarter. Loomis Sayles & Co. L P now owns 232 shares of the basic materials company’s stock worth $25,000 after buying an additional 146 shares in the last quarter. NewSquare Capital LLC bought a new position in Bunge Global in the fourth quarter worth about $37,000. Rise Advisors LLC raised its stake in Bunge Global by 40.6% in the fourth quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock worth $41,000 after buying an additional 117 shares in the last quarter. Riverview Trust Co bought a new position in Bunge Global in the first quarter worth about $46,000. Finally, Ramirez Asset Management Inc. bought a new position in Bunge Global in the third quarter worth about $54,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Performance

BG stock traded down $0.81 during midday trading on Wednesday, reaching $100.95. 1,579,272 shares of the company’s stock traded hands, compared to its average volume of 1,754,071. The company has a 50-day moving average price of $99.94 and a two-hundred day moving average price of $99.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.10 and a current ratio of 1.99. Bunge Global has a 52 week low of $86.10 and a 52 week high of $116.59. The firm has a market capitalization of $14.29 billion, a PE ratio of 8.19 and a beta of 0.64.

Bunge Global (NYSE:BG) last released its quarterly earnings results on Wednesday, April 24th. The basic materials company reported $3.04 earnings per share for the quarter, topping the consensus estimate of $2.55 by $0.49. The firm had revenue of $13.42 billion for the quarter, compared to analysts’ expectations of $13.96 billion. Bunge Global had a net margin of 3.22% and a return on equity of 17.49%. The business’s quarterly revenue was down 12.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.26 earnings per share. As a group, equities analysts anticipate that Bunge Global will post 9.03 EPS for the current year.

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.