BGM Group Ltd. (NASDAQ:BGM) Sees Significant Increase in Short Interest

BGM Group Ltd. (NASDAQ:BGM) saw a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 253,222 shares, a growth of 603.1% from the May 14th total of 36,015 shares. Based on an average daily trading volume, of 199,739 shares, the short-interest ratio is presently 1.3 days. Approximately 0.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BGM Group in a research report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

BGM Group Stock Up 6.3%

BGM Group stock opened at $0.34 on Wednesday. BGM Group has a one year low of $0.26 and a one year high of $17.17. The business’s fifty day moving average is $0.32 and its 200 day moving average is $2.26.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Marshall Wace LLP bought a new position in BGM Group in the second quarter valued at about $218,000. Mariner LLC bought a new position in BGM Group in the third quarter valued at about $267,000. Finally, Geode Capital Management LLC bought a new position in BGM Group in the second quarter valued at about $412,000.

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.