Basel Medical Group Ltd (NASDAQ:BMGL) Short Interest Up 157.1% in July

Basel Medical Group Ltd (NASDAQ:BMGL) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 32,559 shares, an increase of 157.1% from the June 30th total of 12,662 shares. Based on an average daily volume of 70,687 shares, the days-to-cover ratio is currently 0.5 days. Approximately 2.1% of the shares of the company are short sold.

Institutional Investors Weigh In On Basel Medical Group

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marex Group plc purchased a new stake in shares of Basel Medical Group during the 2nd quarter worth $25,000. Citadel Advisors LLC purchased a new position in shares of Basel Medical Group in the 3rd quarter valued at about $169,000. Finally, Virtu Financial LLC lifted its stake in shares of Basel Medical Group by 108.8% in the third quarter. Virtu Financial LLC now owns 33,786 shares of the company’s stock valued at $61,000 after purchasing an additional 17,608 shares during the period.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Basel Medical Group from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, July 16th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

Basel Medical Group Stock Up 3.5%

BMGL traded up $0.20 during trading on Tuesday, reaching $5.99. The company’s stock had a trading volume of 389 shares, compared to its average volume of 28,979. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.88 and a quick ratio of 1.83. The company’s fifty day moving average price is $6.86 and its 200-day moving average price is $7.51. Basel Medical Group has a 52-week low of $4.60 and a 52-week high of $27.36.

Basel Medical Group (NASDAQ:BMGL) last issued its earnings results on Friday, June 26th. The company reported $0.01 earnings per share (EPS) for the quarter. The business had revenue of $3.21 million for the quarter.

About Basel Medical Group

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.