Blue Gold Limited (NASDAQ:BGL) Short Interest Down 33.7% in March

Blue Gold Limited (NASDAQ:BGL) was the target of a significant drop in short interest in the month of March. As of March 13th, there was short interest totaling 624,107 shares, a drop of 33.7% from the February 26th total of 941,751 shares. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 364,409 shares, the days-to-cover ratio is currently 1.7 days.

Blue Gold Stock Up 2.7%

NASDAQ BGL opened at $1.14 on Friday. Blue Gold has a 12-month low of $1.05 and a 12-month high of $166.50. The company has a fifty day simple moving average of $2.23 and a two-hundred day simple moving average of $4.62.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BGL shares. Wall Street Zen upgraded shares of Blue Gold from a “sell” rating to a “hold” rating in a report on Saturday, December 27th. Weiss Ratings restated a “sell (e+)” rating on shares of Blue Gold in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Blue Gold

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rathbones Group PLC purchased a new position in Blue Gold during the third quarter valued at approximately $107,000. Millennium Management LLC purchased a new stake in shares of Blue Gold during the 3rd quarter worth about $107,000. Jane Street Group LLC acquired a new stake in shares of Blue Gold during the 4th quarter valued at about $26,000. HRT Financial LP acquired a new stake in shares of Blue Gold during the 4th quarter valued at about $26,000. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Blue Gold in the 3rd quarter valued at about $303,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

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.