Basel Medical Group Ltd (NASDAQ:BMGL) Sees Large Increase in Short Interest

Basel Medical Group Ltd (NASDAQ:BMGL) saw a significant growth in short interest in 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 trading volume of 2,921,328 shares, the short-interest ratio is presently 0.1 days. Approximately 20.2% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Basel Medical Group from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus rating of “Sell”.

Basel Medical Group Trading Up 2.4%

Shares of BMGL traded up $0.16 during mid-day trading on Friday, reaching $6.87. The company’s stock had a trading volume of 5,421 shares, compared to its average volume of 150,963. Basel Medical Group has a 52 week low of $4.60 and a 52 week high of $54.60. The company’s fifty day moving average price is $7.44 and its two-hundred day moving average price is $7.76.

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

Hedge Funds Weigh In On Basel Medical Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Marex Group plc bought a new stake in Basel Medical Group in the 2nd quarter worth $25,000. Virtu Financial LLC raised its position in Basel Medical Group by 108.8% during the 3rd 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 last quarter. Finally, Citadel Advisors LLC purchased a new stake in Basel Medical Group in the 3rd quarter worth approximately $169,000.

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.