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

BGM Group Ltd. (NASDAQ:BGM) was the target of a large 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 trading volume of 199,739 shares, the days-to-cover ratio is presently 1.3 days. Approximately 0.6% of the company’s shares are sold short.

BGM Group Stock Up 6.3%

Shares of NASDAQ:BGM traded up $0.02 during mid-day trading on Friday, reaching $0.36. 301,172 shares of the stock were exchanged, compared to its average volume of 295,803. BGM Group has a one year low of $0.26 and a one year high of $15.53. The stock’s 50 day simple moving average is $0.32 and its 200-day simple moving average is $2.16.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC acquired a new position in shares of BGM Group during the 2nd quarter worth about $412,000. Mariner LLC acquired a new position in BGM Group during the third quarter valued at approximately $267,000. Finally, Marshall Wace LLP acquired a new position in BGM Group during the second quarter valued at approximately $218,000.

Wall Street Analyst Weigh In

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

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.