BGM Group Ltd. (NASDAQ:BGM) Sees Large Decrease in Short Interest

BGM Group Ltd. (NASDAQ:BGM) saw a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 8,247 shares, a decline of 92.6% from the September 30th total of 112,147 shares. Based on an average trading volume of 11,701 shares, the days-to-cover ratio is presently 0.7 days. Approximately 0.2% of the company’s shares are sold short.

BGM Group Stock Up 7.0%

Shares of BGM Group stock traded up $0.55 on Monday, reaching $8.40. The stock had a trading volume of 10,751 shares, compared to its average volume of 12,149. The company has a 50 day moving average price of $8.42 and a 200 day moving average price of $22.33. BGM Group has a 1 year low of $6.45 and a 1 year high of $302.40.

BGM Group (NASDAQ:BGM) last announced its earnings results on Friday, August 28th. The company reported ($0.30) earnings per share for the quarter. The company had revenue of $12.15 million during the quarter.

Analyst Ratings Changes

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

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.