The stock price of Bright Green Corp (NASDAQ: BGXX) has plunged by -22.01 when compared to previous closing price of 0.19, but the company has seen a -28.83% decline in its stock price over the last five trading sessions. globenewswire.com reported 2024-08-23 that GRANTS, NEW MEXICO, Aug. 23, 2024 (GLOBE NEWSWIRE) — Bright Green Corporation (Nasdaq: BGXX) (“Bright Green” or the “Company”) today announced that it has signed a letter of intent to supply its DEA-approved marijuana extracts and plant-based psychedelics to Benuvia Operations, a FDA registered, DEA licensed and cGMP certified leader in pharmaceutical cannabinoids, as well as psychedelic molecules currently under investigation for clinical use.
Is It Worth Investing in Bright Green Corp (NASDAQ: BGXX) Right Now?
BGXX has 36-month beta value of 0.69.
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The public float for BGXX is 75.33M, and currently, short sellers hold a 0.99% ratio of that float. The average trading volume of BGXX on September 19, 2024 was 756.02K shares.
BGXX’s Market Performance
BGXX’s stock has seen a -28.83% decrease for the week, with a -42.46% drop in the past month and a -46.40% fall in the past quarter. The volatility ratio for the week is 16.07%, and the volatility levels for the past 30 days are at 13.96% for Bright Green Corp The simple moving average for the last 20 days is -29.90% for BGXX stock, with a simple moving average of -39.94% for the last 200 days.
BGXX Trading at -35.43% from the 50-Day Moving Average
After a stumble in the market that brought BGXX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -72.57% of loss for the given period.
Volatility was left at 13.96%, however, over the last 30 days, the volatility rate increased by 16.07%, as shares sank -38.75% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -41.25% lower at present.
During the last 5 trading sessions, BGXX fell by -28.83%, which changed the moving average for the period of 200-days by -46.07% in comparison to the 20-day moving average, which settled at $0.2066. In addition, Bright Green Corp saw -55.13% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BGXX starting from Elmasri Saleem, who sale 13,263 shares at the price of $0.19 back on Sep 10 ’24. After this action, Elmasri Saleem now owns 1,103,476 shares of Bright Green Corp, valued at $2,520 using the latest closing price.
Elmasri Saleem, the Chief Financial Officer of Bright Green Corp, sale 12,679 shares at $0.19 during a trade that took place back on Sep 09 ’24, which means that Elmasri Saleem is holding 1,116,739 shares at $2,431 based on the most recent closing price.
Stock Fundamentals for BGXX
Current profitability levels for the company are sitting at:
- -27.08 for the present operating margin
- -1.42 for the gross margin
The net margin for Bright Green Corp stands at -39.27. The total capital return value is set at -0.69. Equity return is now at value -85.54, with -48.52 for asset returns.
Based on Bright Green Corp (BGXX), the company’s capital structure generated 0.05 points at debt to capital in total, while cash flow to debt ratio is standing at -2.39. The debt to equity ratio resting at 0.05. The interest coverage ratio of the stock is 81.0.
Currently, EBITDA for the company is -10.79 million with net debt to EBITDA at -0.07. When we switch over and look at the enterprise to sales, we see a ratio of 113.8. The liquidity ratio also appears to be rather interesting for investors as it stands at 0.02.
Conclusion
To put it simply, Bright Green Corp (BGXX) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
