Blue Gold Limited (NASDAQ:BGL) Shares Shorted: Short Interest Up 68.4% in September

Blue Gold Limited (NASDAQ:BGL) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 219,904 shares, a growth of 68.4% from the September 15th total of 130,566 shares. Currently, 0.8% of the company’s shares are short sold. Based on an average daily volume of 310,182 shares, the days-to-cover ratio is presently 0.7 days.

Blue Gold Stock Performance

Shares of NASDAQ BGL opened at $0.13 on Friday. Blue Gold has a fifty-two week low of $0.12 and a fifty-two week high of $10.58. The company’s 50 day simple moving average is $0.20 and its 200 day simple moving average is $0.49.

Blue Gold (NASDAQ:BGL) last released its earnings results on Thursday, October 8th. The company reported ($0.12) EPS for the quarter. On average, research analysts anticipate that Blue Gold will post -0.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Blue Gold from a “sell (e)” rating to a “sell (e+)” rating in a research report on Wednesday. One analyst has rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Blue Gold stock. Renaissance Technologies LLC acquired a new position in shares of Blue Gold Limited (NASDAQ:BGL) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 29,254 shares of the company’s stock, valued at approximately $35,000. Renaissance Technologies LLC owned 0.09% of Blue Gold as of its most recent SEC filing. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Blue Gold Company Profile

Blue Gold Limited is an exploration-stage mining company focused on the acquisition, exploration and potential development of mineral properties. The company’s activities are centered on identifying and evaluating prospective gold and other mineral resources rather than operating producing mines.

Blue Gold’s mineral exploration interests are located in Mongolia, where it conducts geological studies, exploration programs and related project-development activities. The company’s future operations and business prospects depend on the results of exploration, the delineation of economically recoverable resources and the ability to obtain required permits and financing.

Publicly available information provides limited detail about Blue Gold’s operating history, leadership team and specific products beyond its mineral exploration properties.