Short Interest in Basel Medical Group Ltd (NASDAQ:BMGL) Increases By 1,768.6%

Basel Medical Group Ltd (NASDAQ:BMGL) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 314,368 shares, a growth of 1,768.6% from the May 31st total of 16,824 shares. Based on an average daily volume of 2,921,328 shares, the days-to-cover ratio is currently 0.1 days. Approximately 20.2% of the company’s shares are sold short.

Hedge Funds Weigh In On Basel Medical Group

Large investors have recently made changes to their positions in the business. Marex Group plc purchased a new position in Basel Medical Group in the 2nd quarter worth $25,000. Virtu Financial LLC increased its holdings in Basel Medical Group by 108.8% in the 3rd quarter. Virtu Financial LLC now owns 33,786 shares of the company’s stock worth $61,000 after buying an additional 17,608 shares during the period. Finally, Citadel Advisors LLC acquired a new position in Basel Medical Group in the 3rd quarter worth approximately $169,000.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Basel Medical Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, June 15th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Basel Medical Group Trading Down 6.3%

NASDAQ BMGL traded down $0.44 on Friday, reaching $6.59. 970 shares of the stock traded hands, compared to its average volume of 27,427. The company has a fifty day moving average price of $7.45 and a 200-day moving average price of $7.77. Basel Medical Group has a 12 month low of $4.60 and a 12 month high of $54.60.

Basel Medical Group (NASDAQ:BMGL) last posted its quarterly earnings results on Friday, June 26th. The company reported $0.00 earnings per share (EPS) for the quarter. The firm had revenue of $3.21 million for the quarter.

Basel Medical Group Company Profile

Basel Medical Group Ltd. is an investment holding company, which engages in providing orthopedic surgeries, medical care, and diagnosis services. Its services include orthopedic surgeries, medical care, rehabilitative therapy, physiotherapy, non-surgical treatments, medical diagnosis, magnetic resonance imaging, general surgery, x-ray, lump removal, sports medicine, and total hip replacement. The company was founded by Man Hing Yip on August 10, 2023 and is headquartered in Singapore.