BGM Group Ltd. (NASDAQ:BGM) Shares Shorted: Short Interest Up 86.0% in September

BGM Group Ltd. (NASDAQ:BGM) saw a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 112,147 shares, an increase of 86.0% from the September 15th total of 60,294 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily volume of 75,295 shares, the days-to-cover ratio is presently 1.5 days.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of BGM Group from a “sell (d)” rating to a “sell (e+)” rating in a report on Thursday, August 6th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat, the company currently has an average rating of “Sell”.

BGM Group Trading Down 8.9%

Shares of BGM stock opened at $9.55 on Thursday. BGM Group has a 1 year low of $6.45 and a 1 year high of $303.00. The firm’s 50 day moving average is $8.45 and its 200-day moving average is $9.27.

BGM Group (NASDAQ:BGM) last issued its quarterly earnings results on Friday, August 28th. The company reported ($0.30) earnings per share for the quarter. The company had revenue of $12.15 million for the quarter.

BGM Group Company Profile

BGM Group is a China-based marketing and advertising services company whose shares trade on the Nasdaq under the symbol BGM. The company provides integrated marketing solutions designed to help businesses promote their brands, reach target audiences and support customer acquisition.

Its services are centered on digital and online marketing activities, which may include campaign planning, advertising placement, content development, social-media promotion and other brand-building services.