BGM Group Ltd. (NASDAQ:BGM – Get Free Report) was the recipient of a large decline in short interest in June. As of June 30th, there was short interest totaling 178,275 shares, a decline of 37.3% from the June 15th total of 284,381 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average trading volume of 92,882 shares, the short-interest ratio is presently 1.9 days.
Institutional Investors Weigh In On BGM Group
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mariner LLC acquired a new stake in shares of BGM Group in the 3rd quarter valued at approximately $267,000. Geode Capital Management LLC bought a new position in shares of BGM Group in the second quarter valued at $412,000. Finally, Marshall Wace LLP acquired a new position in BGM Group during the second quarter worth $218,000.
Analyst Ratings Changes
Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BGM Group in a research note on Monday, April 20th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.
BGM Group Stock Performance
BGM traded up $0.01 on Friday, hitting $0.30. 8,679 shares of the company were exchanged, compared to its average volume of 320,927. The stock’s fifty day moving average is $0.33 and its 200-day moving average is $1.14. BGM Group has a 12 month low of $0.26 and a 12 month high of $11.80.
About BGM Group
Qilian International Holding Group Limited manufactures and distributes active pharmaceutical ingredients (APIs), traditional Chinese medicine derivatives (TCMD), and other by-products in China. The company provides licorice products, including Gan Di Xin, an antitussive and expectorant medicine; Qilian Shan Licorice Extract, an ingredient for pharmaceutical companies to manufacture traditional licorice tablets; and Qilian Shan licorice liquid extract, a primary ingredient for medical preparation companies to produce compound licorice oral solutions.
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