BGM Group Ltd. (NASDAQ:BGM) Short Interest Up 60.0% in September

Key Points

• BGM Group Ltd. experienced a significant increase in short interest, which rose by 60.0% in September, totaling 108,000 shares by the end of the month.
• Analysts have downgraded BGM Group, with one firm lowering its rating from "buy" to "hold" and another issuing a "sell" rating.
• The company has seen recent institutional investment, with Marshall Wace LLP acquiring 20,632 shares valued at approximately $218,000.

BGM Group Ltd. (NASDAQ:BGM - Get Free Report) saw a large growth in short interest in September. As of September 30th, there was short interest totaling 108,000 shares, a growth of 60.0% from the September 15th total of 67,500 shares. Based on an average daily volume of 59,800 shares, the short-interest ratio is presently 1.8 days. Currently, 0.3% of the shares of the stock are sold short. Currently, 0.3% of the shares of the stock are sold short. Based on an average daily volume of 59,800 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

BGM has been the subject of several recent research reports. Wall Street Zen cut shares of BGM Group from a "buy" rating to a "hold" rating in a research report on Sunday, July 6th. Weiss Ratings reissued a "sell (d)" rating on shares of BGM Group in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has an average rating of "Sell".

BGM Group Price Performance

NASDAQ:BGM traded down $0.12 during mid-day trading on Wednesday, reaching $9.40. 1,845 shares of the company's stock were exchanged, compared to its average volume of 20,810. The business's fifty day simple moving average is $8.80 and its two-hundred day simple moving average is $10.36. BGM Group has a one year low of $6.22 and a one year high of $17.17.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BGM Group stock. Marshall Wace LLP purchased a new position in BGM Group Ltd. (NASDAQ:BGM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,632 shares of the company's stock, valued at 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.

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