Short Interest in Bright Green Co. (NASDAQ:BGXX) Drops By 8.3%

Bright Green Co. (NASDAQ:BGXX) was the recipient of a significant 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. Approximately 3.7% of the shares of the company are short sold. Based on an average trading volume of 1,520,000 shares, the short-interest ratio is currently 1.8 days.

Insiders Place Their Bets

In other Bright Green news, Director Lynn Stockwell sold 1,000,000 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $0.36, for a total transaction of $360,000.00. Following the sale, the director now owns 68,183,658 shares in the company, valued at $24,546,116.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 51.38% of the company’s stock.

Hedge Funds Weigh In On Bright Green

A hedge fund recently raised its stake in Bright Green stock. Mirae Asset Global Investments Co. Ltd. increased its position in Bright Green Co. (NASDAQ:BGXX) by 34.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,488,534 shares of the company’s stock after acquiring an additional 893,636 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 1.90% of Bright Green worth $1,152,000 at the end of the most recent reporting period. 7.83% of the stock is owned by institutional investors and hedge funds.

Bright Green Stock Up 6.9 %

Shares of BGXX stock traded up $0.02 on Monday, reaching $0.27. The company’s stock had a trading volume of 681,209 shares, compared to its average volume of 1,844,311. The company has a current ratio of 0.01, a quick ratio of 0.01 and a debt-to-equity ratio of 0.01. Bright Green has a 12-month low of $0.15 and a 12-month high of $1.02. The stock’s 50 day simple moving average is $0.25 and its 200-day simple moving average is $0.25.

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

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.