BGM Group (NASDAQ:BGM) Trading Down 6% – Here’s Why

BGM Group Ltd. (NASDAQ:BGM) shares were down 6% during mid-day trading on Thursday . The company traded as low as $0.2523 and last traded at $0.2633. Approximately 34,081 shares were traded during trading, a decline of 87% from the average session volume of 259,989 shares. The stock had previously closed at $0.2802.

Analysts Set New Price Targets

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

BGM Group Stock Performance

The business has a 50 day moving average of $0.32 and a 200 day moving average of $0.53.

BGM Group (NASDAQ:BGM) last issued its quarterly earnings data on Tuesday, July 21st. The company reported ($2.25) earnings per share (EPS) for the quarter. The firm had revenue of $11.80 million during the quarter.

Hedge Funds Weigh In On BGM Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Mariner LLC purchased a new stake in shares of BGM Group during the 3rd quarter valued at about $267,000. Marshall Wace LLP purchased a new position in shares of BGM Group in the 2nd quarter worth approximately $218,000. Finally, Geode Capital Management LLC purchased a new position in shares of BGM Group in the 2nd quarter worth approximately $412,000.

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.