Bright Green Co. (NASDAQ:BGXX) Sees Large Drop in Short Interest

Bright Green Co. (NASDAQ:BGXX) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 459,000 shares, a decline of 75.1% from the June 30th total of 1,840,000 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 1,640,000 shares, the short-interest ratio is presently 0.3 days.

Bright Green Price Performance

Shares of NASDAQ:BGXX remained flat at $0.23 on Friday. 123,538 shares of the stock were exchanged, compared to its average volume of 923,467. The business has a 50-day moving average price of $0.26 and a 200-day moving average price of $0.24. Bright Green has a 1-year low of $0.15 and a 1-year high of $0.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.01 and a current ratio of 0.01.

Bright Green (NASDAQ:BGXX) last issued its quarterly earnings results on Monday, May 20th. The company reported ($0.01) earnings per share (EPS) for the quarter.

Insider Activity at Bright Green

In related news, Director Lynn Stockwell sold 1,000,000 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $0.36, for a total value of $360,000.00. Following the completion of the sale, the director now directly owns 68,183,658 shares of the company’s stock, valued at $24,546,116.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 51.38% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Bright Green stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Bright Green Co. (NASDAQ:BGXX) by 34.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,488,534 shares of the company’s stock after acquiring an additional 893,636 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.90% of Bright Green worth $1,152,000 at the end of the most recent quarter. 7.83% of the stock is currently owned by institutional investors.

About Bright Green

Bright Green Corporation focuses on the cultivation, manufacture, and sale of cannabis and cannabis-related products. Its products are used in research, pharmaceutical applications, and affiliated exports. The company was incorporated in 2019 and is based in Grants, New Mexico.