Bunge Global SA (NYSE:BG) Short Interest Up 13.5% in April

Bunge Global SA (NYSE:BG) saw a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 5,900,000 shares, an increase 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 presently 3.3 days.

Institutional Trading of Bunge Global

Hedge funds have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P increased its position in shares of 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 purchasing an additional 146 shares during the period. NewSquare Capital LLC bought a new position in Bunge Global in the 4th quarter valued at about $37,000. Rise Advisors LLC raised its position in shares of Bunge Global by 40.6% in the 4th quarter. Rise Advisors LLC now owns 405 shares of the basic materials company’s stock valued at $41,000 after buying an additional 117 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Bunge Global during the 1st quarter worth approximately $46,000. Finally, Ramirez Asset Management Inc. acquired a new stake in shares of Bunge Global during the 3rd quarter worth approximately $54,000. 86.23% of the stock is owned by institutional investors and hedge funds.

Bunge Global Stock Performance

Bunge Global stock traded up $0.75 during midday trading on Monday, reaching $103.48. 1,246,220 shares of the company’s stock were exchanged, compared to its average volume of 1,759,586. The stock’s 50-day simple moving average is $99.74 and its 200 day simple moving average is $99.96. The firm has a market cap of $14.65 billion, a price-to-earnings ratio of 8.33 and a beta of 0.64. 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.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BG. Wolfe Research cut Bunge Global from an “outperform” rating to a “peer perform” rating in a report on Wednesday, January 10th. BMO Capital Markets cut their price target on shares of Bunge Global from $130.00 to $120.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. The Goldman Sachs Group reduced their price target on shares of Bunge Global from $141.00 to $126.00 and set a “buy” rating for the company in a report on Tuesday, February 13th. HSBC upgraded shares of Bunge Global from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $122.00 to $105.00 in a report on Friday, February 9th. Finally, StockNews.com lowered shares of Bunge Global from a “buy” rating to a “hold” rating in a research note on Monday, February 26th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Bunge Global presently has an average rating of “Moderate Buy” and a consensus price target of $121.00.

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.