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

Blue Gold Limited (NASDAQ:BGL) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 44,466 shares, a drop of 50.9% from the December 15th total of 90,635 shares. Based on an average daily trading volume, of 273,596 shares, the short-interest ratio is currently 0.2 days. Approximately 0.2% of the shares of the company are sold short. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 273,596 shares, the short-interest ratio is currently 0.2 days.

Blue Gold Price Performance

NASDAQ:BGL opened at $2.61 on Thursday. Blue Gold has a 1 year low of $1.83 and a 1 year high of $166.50. The business has a fifty day simple moving average of $3.55.

Institutional Trading of Blue Gold

Institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in shares of Blue Gold during the 3rd quarter worth approximately $107,000. Rathbones Group PLC acquired a new position in Blue Gold during the third quarter worth $107,000. Qube Research & Technologies Ltd purchased a new stake in Blue Gold during the third quarter worth $303,000. Finally, Van ECK Associates Corp purchased a new stake in Blue Gold during the third quarter worth $4,202,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on BGL shares. Wall Street Zen upgraded shares of Blue Gold from a “sell” rating to a “hold” rating in a research note on Saturday, December 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Blue Gold in a research report on Thursday, October 30th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

About Blue Gold

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.