BGM Group Ltd. (NASDAQ:BGM) Shares Shorted: Short Interest Up 86.0% in September

BGM Group Ltd. (NASDAQ:BGM) saw a significant growth in short interest during the month of September. As of September 30th, there was short interest totaling 112,147 shares, a growth of 86.0% from the September 15th total of 60,294 shares. Approximately 2.1% of the shares of the company are short sold. Based on an average daily volume of 75,295 shares, the days-to-cover ratio is presently 1.5 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered BGM Group from a “sell (d)” rating to a “sell (e+)” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Sell rating. According to data from MarketBeat, BGM Group currently has an average rating of “Sell”.

BGM Group Trading Up 6.8%

NASDAQ:BGM traded up $0.58 during mid-day trading on Friday, hitting $9.18. The stock had a trading volume of 2,839 shares, compared to its average volume of 7,468. The company has a 50 day simple moving average of $8.46 and a 200-day simple moving average of $9.23. BGM Group has a 52 week low of $6.45 and a 52 week high of $303.00.

BGM Group (NASDAQ:BGM) last announced its quarterly earnings results on Friday, August 28th. The company reported ($0.30) EPS for the quarter. The business had revenue of $12.15 million for the quarter.

About BGM Group

BGM Group is a China-based marketing and advertising services company whose shares trade on the Nasdaq under the symbol BGM. The company provides integrated marketing solutions designed to help businesses promote their brands, reach target audiences and support customer acquisition.

Its services are centered on digital and online marketing activities, which may include campaign planning, advertising placement, content development, social-media promotion and other brand-building services.