BGM Group (NASDAQ:BGM) Stock Price Down 1% – Should You Sell?

Shares of BGM Group Ltd. (NASDAQ:BGM) fell 1% during mid-day trading on Friday . The stock traded as low as $1.02 and last traded at $1.04. 32,715 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 111,259 shares. The stock had previously closed at $1.05.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of BGM Group in a report on Wednesday, January 21st. One 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 moving average price is $3.20 and its 200-day moving average price is $6.69.

Institutional Trading of BGM Group

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