Bright Green Corporation [BGXX] is -92.95% lower this YTD. Is it still time to buy?

Bright Green Corporation [NASDAQ: BGXX] price surged by 14.10 percent to reach at $0.22. The company report on September 7, 2022 that Bright Green Announces Pricing of $10.0 Million Private Placement.


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Bright Green Corporation (NASDAQ: BGXX) (“Bright Green” or “the Company”), one of the very few companies selected by the U.S. government to grow, manufacture, and sell, legally under federal and state laws, cannabis and cannabis-related products for research, pharmaceutical applications and affiliated export, today announced that it has entered into a securities purchase agreement with institutional investors to purchase 9,523,810 shares of common stock and warrants to purchase 9,523,810 shares of common stock, at a purchase price of $1.05 per share and accompanying warrant. The gross proceeds to the Company from the private placement are expected to be approximately $10.0 million before deducting the placement agent’s fees and other estimated offering expenses.

The warrants will be immediately exercisable from the date of issuance at an initial exercise price of $1.05 per share, subject to adjustments as set forth therein, and will expire five years from the date of issuance. The closing of the private placement is expected to occur on September 12, 2022, subject to the satisfaction of certain customary closing conditions set forth in the securities purchase agreement.

A sum of 6715810 shares traded at recent session while its average daily volume was at 2.19M shares. Bright Green Corporation shares reached a high of $1.80 and dropped to a low of $1.50 until finishing in the latest session at $1.78.

Guru’s Opinion on Bright Green Corporation [BGXX]:

The Average True Range (ATR) for Bright Green Corporation is set at 0.24 The Price to Book ratio for the last quarter was 44.50, with the Price to Cash per share for the same quarter was set at 0.00.

BGXX Stock Performance Analysis:

Bright Green Corporation [BGXX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 28.99.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BGXX stock in for the last two-week period is set at 54.12, with the RSI for the last a single of trading hit 70.02, and the three-weeks RSI is set at 41.94 for Bright Green Corporation [BGXX]. The present Moving Average for the last 50 days of trading for this stock 1.6348, while it was recorded at 1.6140 for the last single week of trading.

Insight into Bright Green Corporation Fundamentals:

Return on Equity for this stock declined to -32.26, with Return on Assets sitting at -29.86.

Bright Green Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.20 and a Current Ratio set at 0.20.

Bright Green Corporation [BGXX] Insider Position Details

There are presently around $6 million, or 2.20% of BGXX stock, in the hands of institutional investors. The top three institutional holders of BGXX stocks are: VANGUARD GROUP INC with ownership of 2,877,034, which is approximately New of the company’s market cap and around 67.50% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 276,324 shares of the stock with an approximate value of $0.49 million in BGXX stocks shares; and GEODE CAPITAL MANAGEMENT, LLC, currently with $0.16 million in BGXX stock with ownership of nearly New of the company’s market capitalization.

17 institutional holders increased their position in Bright Green Corporation [NASDAQ:BGXX] by around 3,544,603 shares. Additionally, 0 investors decreased positions by around 0 shares, while 0 investors held positions by with 0 shares. The mentioned changes placed institutional holdings at 3,544,603 shares, according to the latest SEC report filing. BGXX stock had 17 new institutional investments in for a total of 3,544,603 shares, while 0 institutional investors sold positions of 0 shares during the same period.

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