Bunge Global (NYSE:BG) Sees Unusually-High Trading Volume – Time to Buy?

Bunge Global SA (NYSE:BG) shares saw unusually-high trading volume on Monday . Approximately 936,168 shares were traded during mid-day trading, a decline of 40% from the previous session’s volume of 1,567,471 shares.The stock last traded at $69.31 and had previously closed at $69.60.

Analysts Set New Price Targets

BG has been the subject of a number of analyst reports. Bank of America decreased their price target on Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday. Morgan Stanley reduced their target price on Bunge Global from $90.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday. Barclays reduced their target price on Bunge Global from $95.00 to $85.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, Stephens reduced their target price on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $98.50.

Bunge Global Price Performance

The company has a quick ratio of 1.10, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $9.78 billion, a PE ratio of 8.67 and a beta of 0.69. The company has a 50-day moving average of $78.57 and a 200 day moving average of $88.94.

Bunge Global (NYSE:BG) last issued its quarterly earnings results on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. Sell-side analysts predict that Bunge Global SA will post 7.75 EPS for the current year.

Institutional Trading of Bunge Global

Several large investors have recently made changes to their positions in BG. Spire Wealth Management acquired a new position in shares of Bunge Global during the 4th quarter valued at about $26,000. Wilmington Savings Fund Society FSB purchased a new position in Bunge Global during the third quarter worth about $34,000. Crews Bank & Trust purchased a new position in Bunge Global during the fourth quarter worth about $39,000. Farther Finance Advisors LLC grew its stake in shares of Bunge Global by 40.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock valued at $42,000 after buying an additional 124 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Bunge Global in the 4th quarter valued at approximately $45,000. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.