Short Interest in Blue Gold Limited (NASDAQ:BGL) Drops By 52.4%

Blue Gold Limited (NASDAQ:BGL) was the target of a significant decline in short interest in May. As of May 15th, there was short interest totaling 174,127 shares, a decline of 52.4% from the April 30th total of 366,147 shares. Approximately 0.6% of the company’s shares are sold short. Based on an average trading volume of 420,016 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Blue Gold from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, Blue Gold has an average rating of “Sell”.

Hedge Funds Weigh In On Blue Gold

Large investors have recently modified their holdings of the stock. Rathbones Group PLC bought a new stake in shares of Blue Gold in the third quarter worth approximately $107,000. Millennium Management LLC purchased a new stake in shares of Blue Gold during the 3rd quarter valued at about $107,000. Jane Street Group LLC purchased a new stake in shares of Blue Gold during the 4th quarter valued at about $26,000. HRT Financial LP purchased a new stake in shares of Blue Gold during the 4th quarter valued at about $26,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Blue Gold during the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Blue Gold Price Performance

Shares of BGL traded down $0.07 during trading hours on Tuesday, hitting $0.60. The company had a trading volume of 347,329 shares, compared to its average volume of 1,020,968. The firm has a fifty day moving average price of $1.04 and a 200-day moving average price of $2.20. Blue Gold has a 52-week low of $0.59 and a 52-week high of $166.50.

Blue Gold (NASDAQ:BGL) last posted its quarterly earnings results on Wednesday, April 29th. The company reported ($0.48) earnings per share (EPS) for the quarter. Sell-side analysts predict that Blue Gold will post 0.2 earnings per share for the current fiscal year.

Blue Gold Company Profile

Blue Gold Limited is a gold mining company developing a portfolio of assets anchored by the historic Bogoso Prestea Mine in the Ashanti region of Ghana. Blue Gold Limited, formerly known as Perception Capital Corp. IV, is based in NEW YORK.