BGM Group Ltd. (NASDAQ:BGM) Short Interest Update

BGM Group Ltd. (NASDAQ:BGM) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 65,241 shares, a drop of 13.0% from the February 12th total of 74,988 shares. Approximately 0.2% of the shares of the company are short sold. Based on an average daily volume of 24,801 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 24,801 shares, the days-to-cover ratio is currently 2.6 days. Approximately 0.2% of the shares of the company are short sold.

BGM Group Stock Performance

Shares of BGM stock opened at $0.93 on Tuesday. The business has a fifty day moving average of $2.15 and a 200 day moving average of $5.91. BGM Group has a 1 year low of $0.92 and a 1 year high of $17.17.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC purchased a new stake in BGM Group in the second quarter valued at approximately $412,000. Mariner LLC acquired a new position in BGM Group in the 3rd quarter worth approximately $267,000. Finally, Marshall Wace LLP purchased a new position in BGM Group during the 2nd quarter worth approximately $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.