BGM Group Ltd. (NASDAQ:BGM) Sees Large Decrease in Short Interest

BGM Group Ltd. (NASDAQ:BGM) was the target of a significant decrease in short interest in June. As of June 30th, there was short interest totaling 178,275 shares, a decrease of 37.3% from the June 15th total of 284,381 shares. Based on an average daily trading volume, of 92,882 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.4% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d)” rating on shares of BGM Group in a research note on Monday, April 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat, BGM Group currently has an average rating of “Sell”.

Hedge Funds Weigh In On BGM Group

Several institutional investors have recently modified their holdings of the business. Geode Capital Management LLC purchased a new stake in shares of BGM Group during the second quarter valued at approximately $412,000. Marshall Wace LLP bought a new position in BGM Group in the 2nd quarter valued at $218,000. Finally, Mariner LLC bought a new position in BGM Group in the 3rd quarter valued at $267,000.

BGM Group Trading Down 3.5%

BGM stock traded down $0.01 during trading on Friday, reaching $0.28. The stock had a trading volume of 50,462 shares, compared to its average volume of 405,027. BGM Group has a one year low of $0.26 and a one year high of $11.80. The company’s 50 day moving average is $0.33 and its two-hundred day moving average is $1.13.

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.