Baird Medical Investment (NASDAQ:BDMD) Trading Down 1.7% - What's Next?

Key Points

• Baird Medical Investment's shares fell by 1.7% on Friday, trading at around $2.31 with a significant decrease in volume, down 92% from the average daily trading volume.
• Investment firm Wall Street Zen downgraded Baird Medical Investment from a "hold" to a "sell" rating, signaling concerns over the stock's performance.
• Approximately 19.78% of Baird Medical Investment is owned by institutional investors, with notable activities including new stakes acquired by Jane Street Group and Geode Capital Management.

Baird Medical Investment Holdings Limited (NASDAQ:BDMD - Get Free Report)'s share price traded down 1.7% during mid-day trading on Friday . The stock traded as low as $2.30 and last traded at $2.31. 17,999 shares changed hands during trading, a decline of 92% from the average session volume of 238,525 shares. The stock had previously closed at $2.35.

Analyst Ratings Changes

Separately, Wall Street Zen lowered Baird Medical Investment from a "hold" rating to a "sell" rating in a research report on Monday, July 14th.

Baird Medical Investment Price Performance

The company has a 50 day simple moving average of $2.54 and a 200 day simple moving average of $4.24.

Institutional Investors Weigh In On Baird Medical Investment

Several institutional investors have recently bought and sold shares of BDMD. Jane Street Group LLC bought a new stake in Baird Medical Investment in the 2nd quarter valued at approximately $142,000. XTX Topco Ltd bought a new stake in shares of Baird Medical Investment during the 1st quarter worth approximately $111,000. Finally, Geode Capital Management LLC raised its stake in shares of Baird Medical Investment by 59.7% during the 2nd quarter. Geode Capital Management LLC now owns 25,442 shares of the company's stock worth $93,000 after purchasing an additional 9,511 shares in the last quarter. Institutional investors own 19.78% of the company's stock.

About Baird Medical Investment

Baird Medical Investment Holdings Ltd. is a medical technology company, which engages in the development and provision of medical devices. It is also involved in the design, development, manufacturing, and sale of microwave ablation medical devices, as well as sale of other medical devices. The company was founded on June 16, 2023 and is headquartered in Guangzhou, China.