BGM Group (NASDAQ:BGM) Trading Down 7.8% – Here’s What Happened

BGM Group Ltd. (NASDAQ:BGM)’s share price was down 7.8% on Monday . The stock traded as low as $0.9210 and last traded at $0.9310. Approximately 41,794 shares were traded during mid-day trading, an increase of 94% from the average daily volume of 21,563 shares. The stock had previously closed at $1.01.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of BGM Group in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BGM Group has a consensus rating of “Sell”.

BGM Group Stock Performance

The company’s 50 day simple moving average is $2.15 and its two-hundred day simple moving average is $5.91.

Hedge Funds Weigh In On BGM Group

A number of hedge funds have recently made changes to their positions in BGM. Marshall Wace LLP acquired a new stake in BGM Group in the 2nd quarter valued at approximately $218,000. Mariner LLC purchased a new stake in BGM Group in the third quarter valued at approximately $267,000. Finally, Geode Capital Management LLC acquired a new position in BGM Group during the second quarter worth $412,000.

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.