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

Bright Green Co. (NASDAQ:BGXX) was the recipient of a large drop in short interest in September. As of September 15th, there was short interest totalling 670,000 shares, a drop of 10.1% from the August 31st total of 745,600 shares. Based on an average daily volume of 925,700 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.9% of the company’s stock are short sold.

Insider Transactions at Bright Green

In related news, CFO Saleem Elmasri sold 398,773 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $0.20, for a total transaction of $79,754.60. Following the transaction, the chief financial officer now directly owns 1,201,227 shares of the company’s stock, valued at approximately $240,245.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 51.38% of the company’s stock.

Institutional Trading of Bright Green

A hedge fund recently raised its stake in Bright Green stock. AQR Capital Management LLC lifted its stake in shares of Bright Green Co. (NASDAQ:BGXX) by 797.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,575 shares of the company’s stock after purchasing an additional 209,337 shares during the period. AQR Capital Management LLC owned 0.12% of Bright Green worth $60,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 7.83% of the company’s stock.

Bright Green Stock Performance

NASDAQ BGXX opened at $0.04 on Tuesday. The firm has a market capitalization of $7.42 million, a P/E ratio of -0.56 and a beta of 0.67. The stock has a 50-day simple moving average of $0.20 and a two-hundred day simple moving average of $0.23. Bright Green has a fifty-two week low of $0.03 and a fifty-two week high of $0.54.

Bright Green (NASDAQ:BGXX) last announced its quarterly earnings results on Monday, August 19th. The company reported ($0.01) earnings per share for the quarter.

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.