Bright Green Corp [NASDAQ: BGXX] traded at a high on Tuesday, posting a 45.72 gain after which it closed the day’ session at $0.30. The company report on March 12, 2024 at 10:59 AM that BRIGHT GREEN ANNOUNCES PLANS FOR $250 MILLION EXPANSION OF ITS CONTROLLED SUBSTANCES DRUG PRODUCTION FACILITY IN GRANTS, NEW MEXICO AND OBTAINS $60 MILLION IN FINANCING.
Additionally, the Company has entered into a credit agreement with a lender for a $60 million senior debt financing to fund the expansion construction project (the “Credit Agreement”). The Credit Agreement has a term of 10 years with a fixed interest rate and will have a $5 million tranched draw schedule with up to 12 draw requests over the 10 year term. The remainder of the funds are expected to be sourced from the Company’s EB-5 investment visa oppertunity, currently being marketed by Asia Capital Pioneers Group.
The results of the trading session contributed to over 67197399 shares changing hands. Over the past one week, the price volatility of Bright Green Corp stands at 40.01% while the volatility over the past one month is 25.32%.
The market cap for BGXX stock reached $56.03 million, with 173.30 million shares outstanding and 69.46 million shares in the current float. Compared to the average trading volume of 732.54K shares, BGXX reached a trading volume of 67197399 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Bright Green Corp [BGXX]?
The Average True Range (ATR) for Bright Green Corp is set at 0.05 The Price to Book ratio for the last quarter was 3.59, with the Price to Cash per share for the same quarter was set at 0.00.
How has BGXX stock performed recently?
Bright Green Corp [BGXX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 21.88. With this latest performance, BGXX shares gained by 71.18% in over the last four-week period, additionally sinking by -33.69% over the last 6 months – not to mention a drop of -61.19% in the past year of trading.
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 64.53, with the RSI for the last a single of trading hit 70.01, and the three-weeks RSI is set at 60.18 for Bright Green Corp [BGXX]. The present Moving Average for the last 50 days of trading for this stock 0.2361, while it was recorded at 0.2370 for the last single week of trading, and 0.4733 for the last 200 days.
Bright Green Corp [BGXX]: Deeper insight into the fundamentals
Bright Green Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.03 and a Current Ratio set at 0.03.
Insider trade positions for Bright Green Corp [BGXX]
The top three institutional holders of BGXX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BGXX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BGXX stock with ownership which is approximately 5.8325%.
