Blue Gold Limited (NASDAQ:BGL) Sees Large Growth in Short Interest

Blue Gold Limited (NASDAQ:BGL) was the recipient of a significant growth in short interest during the month of January. As of January 30th, there was short interest totaling 853,463 shares, a growth of 1,334.7% from the January 15th total of 59,487 shares. Currently, 3.4% of the shares of the stock are short sold. Based on an average daily volume of 6,058,184 shares, the short-interest ratio is currently 0.1 days. Based on an average daily volume of 6,058,184 shares, the short-interest ratio is currently 0.1 days. Currently, 3.4% of the shares of the stock are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Qube Research & Technologies Ltd bought a new stake in shares of Blue Gold in the 3rd quarter worth about $303,000. Van ECK Associates Corp bought a new stake in shares of Blue Gold in the 3rd quarter valued at about $4,202,000. Millennium Management LLC purchased a new stake in shares of Blue Gold during the third quarter worth about $107,000. Finally, Rathbones Group PLC acquired a new stake in Blue Gold during the 3rd quarter valued at approximately $107,000. 24.62% of the stock is owned by hedge funds and other institutional investors.

Blue Gold Stock Down 9.9%

Shares of BGL traded down $0.28 on Tuesday, hitting $2.55. 284,589 shares of the stock traded hands, compared to its average volume of 2,500,152. Blue Gold has a one year low of $1.83 and a one year high of $166.50. The firm has a 50 day simple moving average of $2.85.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BGL shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Blue Gold in a research report on Tuesday, January 27th. Wall Street Zen raised Blue Gold from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

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.