BGM Group (NASDAQ:BGM) Sees Large Volume Increase – Time to Buy?

BGM Group Ltd. (NASDAQ:BGM) shares saw unusually-high trading volume on Tuesday . Approximately 36,512 shares traded hands during trading, an increase of 11% from the previous session’s volume of 32,839 shares.The stock last traded at $7.87 and had previously closed at $7.70.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of BGM Group in a research report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

BGM Group Stock Performance

The business has a 50 day simple moving average of $9.32 and a 200-day simple moving average of $9.94.

Institutional Investors Weigh In On BGM Group

Institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC purchased a new stake in BGM Group in the 2nd quarter valued at $412,000. Marshall Wace LLP bought a new stake in shares of BGM Group in the 2nd quarter worth $218,000. Finally, Mariner LLC purchased a new stake in shares of BGM Group in the third quarter valued at about $267,000.

BGM Group Company Profile

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.