Short Interest in BGSF, Inc. (NYSE:BGSF) Rises By 722.5%

Key Points

• Short interest in BGSF, Inc. surged by 722.5% in September, rising from 40,400 shares to 332,300 shares by mid-month, indicating heightened investor skepticism.
• Several analysts have recently upgraded BGSF's stock ratings, with a consensus rating of "Buy" and a target price of $9.00.
• BGSF declared a special $2.00 dividend for shareholders, which was paid on September 30th, reflecting the company's ongoing commitment to returning value to investors.

BGSF, Inc. (NYSE:BGSF - Get Free Report) saw a large growth in short interest in September. As of September 15th, there was short interest totaling 332,300 shares, a growth of 722.5% from the August 31st total of 40,400 shares. Based on an average trading volume of 197,100 shares, the short-interest ratio is currently 1.7 days. Approximately 3.3% of the company's stock are sold short. Approximately 3.3% of the company's stock are sold short. Based on an average trading volume of 197,100 shares, the short-interest ratio is currently 1.7 days.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Zacks Research upgraded shares of BGSF to a "hold" rating in a report on Wednesday, August 13th. Taglich Brothers upgraded shares of BGSF from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, June 23rd. Finally, Wall Street Zen upgraded shares of BGSF from a "sell" rating to a "hold" rating in a report on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $9.00.

Institutional Trading of BGSF

Institutional investors and hedge funds have recently bought and sold shares of the business. Clear Harbor Asset Management LLC purchased a new stake in BGSF in the 2nd quarter valued at $346,000. Northern Trust Corp raised its position in BGSF by 43.8% in the 4th quarter. Northern Trust Corp now owns 37,675 shares of the company's stock valued at $197,000 after purchasing an additional 11,483 shares during the last quarter. Millennium Management LLC purchased a new stake in BGSF in the 4th quarter valued at $60,000. Allworth Financial LP raised its position in BGSF by 98.0% in the 1st quarter. Allworth Financial LP now owns 39,400 shares of the company's stock valued at $136,000 after purchasing an additional 19,500 shares during the last quarter. Finally, Bridge City Capital LLC raised its position in BGSF by 10.8% in the 1st quarter. Bridge City Capital LLC now owns 52,051 shares of the company's stock valued at $192,000 after purchasing an additional 5,055 shares during the last quarter. Hedge funds and other institutional investors own 37.19% of the company's stock.

BGSF Stock Up 2.7%

BGSF stock opened at $7.12 on Wednesday. The company has a fifty day moving average price of $6.44 and a 200 day moving average price of $5.14. BGSF has a 12 month low of $2.91 and a 12 month high of $9.06. The company has a market cap of $79.47 million, a price-to-earnings ratio of -12.27 and a beta of 1.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.64 and a quick ratio of 1.64.

BGSF Dividend Announcement

The firm also recently declared a special dividend, which was paid on Tuesday, September 30th. Investors of record on Tuesday, September 23rd were given a $2.00 dividend. The ex-dividend date was Wednesday, October 1st.

About BGSF

BGSF, Inc, together with its subsidiaries, provides consulting, managed services, and professional workforce solutions in the United States. It operates in two segments, Property Management and Professional. The Property Management segment offers office and maintenance field talent to various apartment communities and commercial buildings.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.