Bright Green Co. (NASDAQ:BGXX) Sees Significant Decline in Short Interest

Bright Green Co. (NASDAQ:BGXX) saw a significant drop in short interest in July. As of July 15th, there was short interest totalling 459,000 shares, a drop of 75.1% from the June 30th total of 1,840,000 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 1,640,000 shares, the days-to-cover ratio is currently 0.3 days.

Bright Green Trading Down 2.0 %

Bright Green stock traded down $0.00 during mid-day trading on Thursday, reaching $0.23. 129,190 shares of the company were exchanged, compared to its average volume of 1,692,949. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.01 and a quick ratio of 0.01. The company has a fifty day simple moving average of $0.26 and a 200-day simple moving average of $0.24. Bright Green has a 12 month low of $0.15 and a 12 month high of $0.90.

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

Insider Transactions at Bright Green

In related news, Director Lynn Stockwell sold 1,000,000 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $0.36, for a total transaction of $360,000.00. Following the transaction, the director now directly owns 68,183,658 shares of the company’s stock, valued at $24,546,116.88. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 51.38% of the company’s stock.

Hedge Funds Weigh In On Bright Green

An institutional investor recently raised its position in Bright Green stock. Mirae Asset Global Investments Co. Ltd. boosted its position in Bright Green Co. (NASDAQ:BGXX) by 34.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,488,534 shares of the company’s stock after acquiring an additional 893,636 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 1.90% of Bright Green worth $1,152,000 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.