Basel Medical Group Ltd (NASDAQ:BMGL) Short Interest Down 96.0% in June

Basel Medical Group Ltd (NASDAQ:BMGL) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 12,662 shares, a decline of 96.0% from the June 15th total of 314,368 shares. Based on an average daily volume of 12,536 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.8% of the shares of the stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC acquired a new stake in shares of Basel Medical Group in the 3rd quarter valued at $169,000. Virtu Financial LLC lifted its stake in shares of Basel Medical Group by 108.8% during the third quarter. Virtu Financial LLC now owns 33,786 shares of the company’s stock valued at $61,000 after acquiring an additional 17,608 shares during the period. Finally, Marex Group plc acquired a new position in shares of Basel Medical Group during the second quarter valued at $25,000.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Basel Medical Group from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Basel Medical Group Trading Down 0.2%

BMGL traded down $0.01 during midday trading on Friday, hitting $6.61. The company had a trading volume of 6,461 shares, compared to its average volume of 22,474. Basel Medical Group has a twelve month low of $4.60 and a twelve month high of $54.60. The company has a current ratio of 1.88, a quick ratio of 1.83 and a debt-to-equity ratio of 0.93. The firm’s 50-day simple moving average is $7.38 and its 200-day simple moving average is $7.59.

Basel Medical Group (NASDAQ:BMGL) last announced its earnings results on Friday, June 26th. The company reported $0.01 earnings per share (EPS) for the quarter. The company had revenue of $3.21 million for the quarter.

About Basel Medical Group

Basel Medical Group Ltd. is an investment holding company, which engages in providing orthopedic surgeries, medical care, and diagnosis services. Its services include orthopedic surgeries, medical care, rehabilitative therapy, physiotherapy, non-surgical treatments, medical diagnosis, magnetic resonance imaging, general surgery, x-ray, lump removal, sports medicine, and total hip replacement. The company was founded by Man Hing Yip on August 10, 2023 and is headquartered in Singapore.