Bright Green Co. (NASDAQ:BGXX) Short Interest Up 101.8% in August

Bright Green Co. (NASDAQ:BGXX) saw a large increase in short interest during the month of August. As of August 31st, there was short interest totalling 745,600 shares, an increase of 101.8% from the August 15th total of 369,500 shares. Based on an average daily volume of 794,400 shares, the short-interest ratio is presently 0.9 days. Currently, 1.0% of the company’s stock are short sold.

Bright Green Stock Performance

Shares of NASDAQ:BGXX traded down $0.01 during trading hours on Friday, reaching $0.20. The stock had a trading volume of 652,922 shares, compared to its average volume of 1,480,174. The firm’s 50 day moving average is $0.23 and its 200-day moving average is $0.24. The stock has a market capitalization of $37.97 million, a price-to-earnings ratio of -2.84 and a beta of 0.67. Bright Green has a 1 year low of $0.15 and a 1 year high of $0.54.

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

Insider Buying and Selling at Bright Green

In other Bright Green news, CFO Saleem Elmasri sold 398,773 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $0.20, for a total value of $79,754.60. Following the sale, 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 legal filing with the SEC, which is available at the SEC website. Insiders own 51.38% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Bright Green stock. AQR Capital Management LLC lifted its stake in Bright Green Co. (NASDAQ:BGXX) by 797.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 235,575 shares of the company’s stock after buying an additional 209,337 shares during the period. AQR Capital Management LLC owned approximately 0.12% of Bright Green worth $60,000 at the end of the most recent quarter. 7.83% of the stock is currently owned by hedge funds and other institutional investors.

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.