BGM Group Ltd. (NASDAQ:BGM) Short Interest Down 37.3% in June

BGM Group Ltd. (NASDAQ:BGM) was the recipient of a significant decrease in short interest in the month of June. As of June 30th, there was short interest totaling 178,275 shares, a decrease of 37.3% from the June 15th total of 284,381 shares. Based on an average daily trading volume, of 92,882 shares, the days-to-cover ratio is presently 1.9 days. Currently, 0.4% of the company’s shares are short sold.

BGM Group Trading Down 3.5%

Shares of NASDAQ:BGM opened at $0.28 on Friday. BGM Group has a 1 year low of $0.26 and a 1 year high of $11.80. The stock has a 50-day simple moving average of $0.33 and a 200-day simple moving average of $1.13.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On BGM Group

Several institutional investors have recently bought and sold shares of BGM. Mariner LLC purchased a new position in shares of BGM Group in the 3rd quarter valued at $267,000. Marshall Wace LLP acquired a new position in shares of BGM Group during the 2nd quarter valued at $218,000. Finally, Geode Capital Management LLC purchased a new stake in BGM Group during the 2nd quarter worth $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.