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

Bunge Global SA (NYSE:BG) saw a significant growth in short interest in 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. Based on an average daily trading volume, of 1,650,000 shares, the days-to-cover ratio is currently 3.1 days. Currently, 3.9% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley reduced their price objective 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. Barclays dropped their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, February 6th. Bank of America dropped their price objective on Bunge Global from $105.00 to $87.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Stephens dropped their price objective on Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC lifted its position in Bunge Global by 40.1% in the third quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 124 shares during the period. Caprock Group LLC raised its stake in Bunge Global by 2.2% during the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company’s stock worth $722,000 after acquiring an additional 164 shares in the last quarter. Deseret Mutual Benefit Administrators raised its stake in Bunge Global by 31.0% during the third quarter. Deseret Mutual Benefit Administrators now owns 702 shares of the basic materials company’s stock worth $68,000 after acquiring an additional 166 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Bunge Global by 3.9% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,512 shares of the basic materials company’s stock worth $351,000 after acquiring an additional 170 shares in the last quarter. Finally, DoubleLine ETF Adviser LP increased its stake in shares of Bunge Global by 2.4% in the fourth quarter. DoubleLine ETF Adviser LP now owns 7,913 shares of the basic materials company’s stock valued at $615,000 after buying an additional 183 shares in the last quarter. 86.23% of the stock is owned by institutional investors.

Bunge Global Stock Performance

Shares of BG traded down $0.21 during mid-day trading on Tuesday, hitting $71.62. The company’s stock had a trading volume of 2,103,302 shares, compared to its average volume of 1,491,445. Bunge Global has a one year low of $67.40 and a one year high of $114.92. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.27 and a current ratio of 2.15. The firm has a market capitalization of $9.59 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 2.66 and a beta of 0.69. The stock’s 50-day moving average is $75.42 and its two-hundred day moving average is $85.97.

Bunge Global (NYSE:BG) last posted its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. As a group, sell-side analysts anticipate that Bunge Global will post 7.94 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.