BGM Group (NASDAQ:BGM) Trading Down 5% – Here’s Why

BGM Group Ltd. (NASDAQ:BGM)’s stock price dropped 5% during mid-day trading on Thursday . The company traded as low as $7.22 and last traded at $7.1950. Approximately 12,413 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 43,706 shares. The stock had previously closed at $7.57.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BGM Group in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, BGM Group has a consensus rating of “Sell”.

BGM Group Stock Down 2.8%

The business has a fifty day moving average of $9.17 and a 200-day moving average of $9.89.

Institutional Investors Weigh In On BGM Group

Several institutional investors have recently bought and sold shares of BGM. Mariner LLC purchased a new stake in shares of BGM Group during the 3rd quarter valued at $267,000. Marshall Wace LLP purchased a new stake in BGM Group in the second quarter valued at about $218,000. Finally, Geode Capital Management LLC acquired a new stake in BGM Group in the second quarter worth about $412,000.

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.