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

BGM Group Ltd. (NASDAQ:BGM) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 40,252 shares, a decrease of 61.2% from the March 31st total of 103,777 shares. Based on an average daily volume of 330,989 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Investors Weigh In On BGM Group

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

BGM Group Stock Up 0.4%

BGM opened at $0.33 on Tuesday. BGM Group has a twelve month low of $0.27 and a twelve month high of $17.17. The company has a 50-day simple moving average of $0.68 and a 200 day simple moving average of $4.11.

Analyst Ratings Changes

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

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.