BGM Group (NASDAQ:BGM) Trading Down 1.9% – What’s Next?

BGM Group Ltd. (NASDAQ:BGM)’s stock price traded down 1.9% on Thursday . The stock traded as low as $3.31 and last traded at $3.58. 2,434 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 6,400 shares. The stock had previously closed at $3.65.

Analysts Set New Price Targets

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

BGM Group Stock Performance

The business has a fifty day moving average of $5.03 and a two-hundred day moving average of $7.59.

Hedge Funds Weigh In On BGM Group

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC bought a new position in shares of BGM Group during the second quarter worth approximately $412,000. Mariner LLC bought a new stake in shares of BGM Group in the third quarter valued at about $267,000. Finally, Marshall Wace LLP acquired a new position in shares of BGM Group in the second quarter valued at about $218,000.

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.