BGM Group (NASDAQ:BGM) Stock Price Up 6.8% – Time to Buy?

BGM Group Ltd. (NASDAQ:BGM)’s stock price shot up 6.8% during mid-day trading on Tuesday . The stock traded as high as $5.68 and last traded at $5.80. 6,866 shares changed hands during trading, a decline of 73% from the average session volume of 25,217 shares. The stock had previously closed at $5.43.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated 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, Based on data from MarketBeat.com, the company currently has a consensus rating of “Sell”.

BGM Group Price Performance

The company has a 50-day simple moving average of $8.57 and a 200 day simple moving average of $9.47.

Institutional Investors Weigh In On BGM Group

Hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC acquired a new position in shares of BGM Group during the second quarter worth $412,000. Mariner LLC acquired a new stake in BGM Group in the 3rd quarter valued at $267,000. Finally, Marshall Wace LLP purchased a new stake in shares of BGM Group during the second quarter worth approximately $218,000.

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.