BGM Group Ltd. (NASDAQ:BGM) Sees Significant Increase in Short Interest

BGM Group Ltd. (NASDAQ:BGM) was the recipient of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 253,222 shares, a growth of 603.1% from the May 14th total of 36,015 shares. Based on an average daily volume of 199,739 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.6% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On BGM Group

A number of institutional investors have recently modified their holdings of BGM. Geode Capital Management LLC purchased a new stake in shares of BGM Group in the second quarter worth $412,000. Mariner LLC purchased a new stake in shares of BGM Group in the third quarter worth $267,000. Finally, Marshall Wace LLP purchased a new stake in shares of BGM Group in the second quarter worth $218,000.

BGM Group Price Performance

NASDAQ BGM opened at $0.34 on Wednesday. BGM Group has a 12 month low of $0.26 and a 12 month high of $17.17. The stock’s fifty day moving average price is $0.32 and its 200-day moving average price is $2.26.

BGM Group Company Profile

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.