Bright Green Co. (NASDAQ:BGXX – Get Free Report) was the target of a significant drop in short interest in March. As of March 31st, there was short interest totalling 3,240,000 shares, a drop of 9.2% from the March 15th total of 3,570,000 shares. Based on an average trading volume of 1,990,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 4.7% of the shares of the stock are short sold.
Hedge Funds Weigh In On Bright Green
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in Bright Green by 5,420.8% during the second quarter. Wells Fargo & Company MN now owns 25,230 shares of the company’s stock worth $25,000 after buying an additional 24,773 shares in the last quarter. Two Sigma Securities LLC purchased a new position in Bright Green during the second quarter worth approximately $34,000. Cibc World Market Inc. purchased a new position in Bright Green during the second quarter worth approximately $41,000. Bank of New York Mellon Corp purchased a new position in Bright Green during the third quarter worth approximately $47,000. Finally, CIBC Asset Management Inc purchased a new position in Bright Green during the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 7.83% of the company’s stock.
Bright Green Price Performance
NASDAQ BGXX opened at $0.23 on Wednesday. The company has a market cap of $41.37 million, a PE ratio of -3.75 and a beta of 0.72. The stock’s 50 day simple moving average is $0.23 and its 200-day simple moving average is $0.28. Bright Green has a 1-year low of $0.15 and a 1-year high of $1.81.
Bright Green Company Profile
Bright Green Corporation focuses on the cultivation, manufacture, and sale of cannabis and cannabis-related products. Its products are used in research, pharmaceutical applications, and affiliated exports. The company was incorporated in 2019 and is based in Grants, New Mexico.
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