Short Interest in Blue Gold Limited (NASDAQ:BGL) Grows By 85.7%

Blue Gold Limited (NASDAQ:BGL) was the recipient of a significant growth in short interest in June. As of June 30th, there was short interest totaling 489,783 shares, a growth of 85.7% from the June 15th total of 263,805 shares. Based on an average daily volume of 2,825,909 shares, the days-to-cover ratio is currently 0.2 days. Approximately 1.8% of the shares of the stock are sold short.

Institutional Investors Weigh In On Blue Gold

Large investors have recently made changes to their positions in the company. Millennium Management LLC purchased a new stake in shares of Blue Gold in the third quarter worth about $107,000. Jane Street Group LLC purchased a new position in Blue Gold during the 4th quarter valued at approximately $26,000. HRT Financial LP bought a new stake in Blue Gold in the 4th quarter worth approximately $26,000. Renaissance Technologies LLC bought a new stake in Blue Gold in the 1st quarter worth approximately $35,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Blue Gold during the 3rd quarter worth approximately $303,000. 24.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Weiss Ratings cut Blue Gold from a “sell (e+)” rating to a “sell (e)” rating in a report on Friday, May 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.

Blue Gold Stock Performance

Shares of NASDAQ:BGL opened at $0.21 on Friday. The firm has a fifty day moving average price of $0.53 and a 200 day moving average price of $1.41. Blue Gold has a fifty-two week low of $0.20 and a fifty-two week high of $21.58.

Blue Gold (NASDAQ:BGL) last announced its quarterly earnings results on Wednesday, April 29th. The company reported ($0.48) earnings per share (EPS) for the quarter. Research analysts expect that Blue Gold will post -0.21 earnings per share for the current fiscal year.

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.