Basel Medical Group Ltd (NASDAQ:BMGL) Sees Significant Drop in Short Interest

Basel Medical Group Ltd (NASDAQ:BMGL) saw a large decline in short interest in the month of June. As of June 30th, there was short interest totaling 12,662 shares, a decline of 96.0% from the June 15th total of 314,368 shares. Based on an average daily volume of 12,536 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.8% of the shares of the company are short sold.

Institutional Investors Weigh In On Basel Medical Group

Hedge funds have recently added to or reduced their stakes in the company. Citadel Advisors LLC bought a new position in shares of Basel Medical Group during the 3rd quarter valued at about $169,000. Virtu Financial LLC raised its holdings in shares of 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 buying an additional 17,608 shares in the last quarter. Finally, Marex Group plc bought a new stake in Basel Medical Group in the 2nd quarter worth approximately $25,000.

Basel Medical Group Trading Down 0.2%

Shares of BMGL traded down $0.01 during trading hours on Friday, reaching $6.61. 6,461 shares of the company’s stock traded hands, compared to its average volume of 22,474. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.83 and a current ratio of 1.88. The firm’s 50 day simple moving average is $7.38 and its 200-day simple moving average is $7.59. 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 data on Friday, June 26th. The company reported $0.01 earnings per share for the quarter. The company had revenue of $3.21 million during the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Basel Medical Group from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Basel Medical Group currently has an average rating of “Sell”.

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.