Bunge Limited (BG) traded on unusually high volume on Mar. 07, as the stock lost 0.86% to close at $50.58. On the day, Bunge Limited saw 4.38 million shares trade hands on 19,232 trades. Considering that the stock averages only a daily volume of 1.67 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.
Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.
The stock has traded between $79.10 and $48.89 over the last 52-weeks, its 50-day SMA is now $53.15, and its 200-day SMA $61.61. Bunge Limited has a P/B ratio of 1.3. It also has a P/E ratio of 34.
Founded in 1818, Bunge is a global agribusiness and food company with operations along the farm-to-consumer food chain. The company is a leading oilseed processor and seller of packaged vegetable oils and other food and ingredients products. Bunge also grows and processes Brazilian sugar cane to produce sugar and ethanol.
Headquartered in White Plains, NY, Bunge Limited has 31,000 employees and is currently under the leadership of CEO Gregory A. Heckman.