Bright Green Co. (NASDAQ:BGXX) Short Interest Down 8.3% in June

Bright Green Co. (NASDAQ:BGXX) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 2,780,000 shares, a decrease of 8.3% from the May 31st total of 3,030,000 shares. Based on an average daily volume of 1,520,000 shares, the short-interest ratio is currently 1.8 days. Approximately 3.7% of the company’s stock are short sold.

Bright Green Price Performance

Shares of BGXX stock remained flat at $0.26 on Wednesday. The company had a trading volume of 292,216 shares, compared to its average volume of 1,827,168. Bright Green has a twelve month low of $0.15 and a twelve month high of $1.00. The company has a quick ratio of 0.01, a current ratio of 0.01 and a debt-to-equity ratio of 0.01. The stock’s fifty day moving average is $0.25 and its two-hundred day moving average is $0.25. The company has a market cap of $49.82 million, a P/E ratio of -3.74 and a beta of 0.67.

Bright Green (NASDAQ:BGXX) last issued its earnings results on Monday, May 20th. The company reported ($0.01) earnings per share for the quarter.

Insider Buying and Selling at Bright Green

In other Bright Green news, Director Lynn Stockwell sold 1,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $0.36, for a total value of $360,000.00. Following the transaction, the director now directly owns 68,183,658 shares of the company’s stock, valued at approximately $24,546,116.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 51.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bright Green

A hedge fund recently bought a new stake in Bright Green stock. Sabby Management LLC bought a new position in Bright Green Co. (NASDAQ:BGXX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 304,183 shares of the company’s stock, valued at approximately $120,000. Sabby Management LLC owned 0.17% of Bright Green at the end of the most recent reporting period. Hedge funds and other institutional investors own 7.83% of the company’s stock.

About Bright Green

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.