Bunge Global SA (NYSE:BG) Short Interest Up 40.7% in February

Bunge Global SA (NYSE:BG - Get Free Report) was the recipient of a significant increase in short interest in February. As of February 15th, there was short interest totalling 5,190,000 shares, an increase of 40.7% from the January 31st total of 3,690,000 shares. Based on an average trading volume of 1,650,000 shares, the days-to-cover ratio is currently 3.1 days. Approximately 3.9% of the company's stock are sold short.

Wall Street Analyst Weigh In

Several research firms have commented on BG. Stephens decreased their target price on shares of Bunge Global from $110.00 to $105.00 in a research report on Monday, February 3rd. Bank of America decreased their price objective on shares of Bunge Global from $105.00 to $87.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Barclays lowered their target price on shares of Bunge Global from $95.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 6th. Finally, Morgan Stanley reduced their price target on Bunge Global from $90.00 to $74.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $93.00.

Bunge Global Stock Performance

Shares of NYSE BG traded up $0.02 during trading hours on Wednesday, hitting $71.72. 1,406,653 shares of the stock were exchanged, compared to its average volume of 1,489,360. Bunge Global has a one year low of $67.40 and a one year high of $114.92. The company's 50 day moving average is $75.42 and its 200 day moving average is $85.97. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.15 and a quick ratio of 1.27. The firm has a market capitalization of $9.61 billion, a P/E ratio of 8.88, a P/E/G ratio of 2.66 and a beta of 0.69.

Bunge Global (NYSE:BG - Get Free Report) last released its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. On average, research analysts expect that Bunge Global will post 7.94 EPS for the current year.

Institutional Trading of Bunge Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BG. Franklin Resources Inc. boosted its position in shares of Bunge Global by 16.9% in the third quarter. Franklin Resources Inc. now owns 274,096 shares of the basic materials company's stock valued at $26,371,000 after acquiring an additional 39,646 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Bunge Global by 7.7% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 3,879 shares of the basic materials company's stock valued at $302,000 after purchasing an additional 278 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Bunge Global by 39.6% in the 4th quarter. Vontobel Holding Ltd. now owns 21,406 shares of the basic materials company's stock valued at $1,665,000 after purchasing an additional 6,077 shares during the period. iA Global Asset Management Inc. acquired a new stake in Bunge Global in the 3rd quarter worth $888,000. Finally, State Street Corp grew its position in Bunge Global by 7.6% in the 3rd quarter. State Street Corp now owns 7,051,601 shares of the basic materials company's stock worth $681,467,000 after purchasing an additional 500,897 shares during the last quarter. Institutional investors and hedge funds own 86.23% of the company's stock.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.