Short Interest in Blue Gold Limited (NASDAQ:BGL) Rises By 33.8%

Blue Gold Limited (NASDAQ:BGL) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totaling 59,487 shares, a growth of 33.8% from the December 31st total of 44,466 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily volume of 254,764 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 254,764 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.2% of the shares of the company are sold short.

Institutional Trading of Blue Gold

Several hedge funds have recently made changes to their positions in the company. Millennium Management LLC purchased a new position in shares of Blue Gold in the third quarter worth about $107,000. Rathbones Group PLC bought a new position in Blue Gold in the 3rd quarter worth approximately $107,000. Qube Research & Technologies Ltd purchased a new position in Blue Gold in the 3rd quarter valued at approximately $303,000. Finally, Van ECK Associates Corp bought a new stake in Blue Gold during the 3rd quarter valued at $4,202,000. 24.62% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BGL has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of Blue Gold in a research note on Tuesday. Wall Street Zen raised shares of 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, According to data from MarketBeat, the stock has an average rating of “Sell”.

Blue Gold Stock Performance

BGL stock traded down $0.18 during trading on Friday, reaching $2.88. 541,551 shares of the stock were exchanged, compared to its average volume of 3,213,495. Blue Gold has a twelve month low of $1.83 and a twelve month high of $166.50. The business’s 50 day simple moving average is $3.01.

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.