Blue Gold Limited (NASDAQ:BGL) Sees Significant Increase in Short Interest

Key Points

• Blue Gold Limited (NASDAQ:BGL) experienced an 84.4% increase in short interest in September, reaching a total of 254,900 shares by September 30th, with currently 13.3% of its shares short sold.
• Analysts have downgraded the stock, with Wall Street Zen lowering its rating from "hold" to "sell," and Weiss Ratings reaffirming a "sell (d)" rating, resulting in a consensus rating of "Sell."
• The stock opened at $8.99 and has a one-year low of $7.00 and a high of $166.50, indicating significant volatility.

Blue Gold Limited (NASDAQ:BGL - Get Free Report) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 254,900 shares, a growth of 84.4% from the September 15th total of 138,200 shares. Currently, 13.3% of the company's shares are short sold. Based on an average daily volume of 196,900 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily volume of 196,900 shares, the days-to-cover ratio is presently 1.3 days. Currently, 13.3% of the company's shares are short sold.

Analysts Set New Price Targets

Several analysts have weighed in on BGL shares. Wall Street Zen cut Blue Gold from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Weiss Ratings reissued a "sell (d)" rating on shares of Blue Gold in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of "Sell".

Blue Gold Price Performance

Blue Gold stock opened at $8.99 on Tuesday. Blue Gold has a 1 year low of $7.00 and a 1 year high of $166.50. The stock's 50-day moving average is $9.78.

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.

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