BGM Group Ltd. (NASDAQ:BGM) Short Interest Up 72.2% in March

BGM Group Ltd. (NASDAQ:BGM) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totaling 103,777 shares, an increase of 72.2% from the March 15th total of 60,266 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average trading volume of 764,776 shares, the short-interest ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BGM. Geode Capital Management LLC acquired a new position in shares of BGM Group during the second quarter valued at about $412,000. Mariner LLC bought a new stake in BGM Group in the third quarter valued at about $267,000. Finally, Marshall Wace LLP bought a new stake in BGM Group in the second quarter valued at about $218,000.

Wall Street Analysts Forecast Growth

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

BGM Group Stock Down 5.2%

Shares of BGM opened at $0.32 on Tuesday. The company has a 50-day simple moving average of $0.87 and a 200-day simple moving average of $4.78. BGM Group has a 52 week low of $0.27 and a 52 week high of $17.17.

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.