BGM Group (NASDAQ:BGM) Reaches New 12-Month Low – What’s Next?

Shares of BGM Group Ltd. (NASDAQ:BGM) hit a new 52-week low on Friday . The company traded as low as $7.00 and last traded at $6.9350, with a volume of 11456 shares changing hands. The stock had previously closed at $7.36.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of BGM Group in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

BGM Group Stock Down 5.8%

The company’s 50 day moving average price is $9.11 and its 200-day moving average price is $9.87.

Institutional Investors Weigh In On BGM Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace LLP bought a new stake in BGM Group in the 2nd quarter worth about $218,000. Mariner LLC bought a new position in shares of BGM Group in the third quarter worth approximately $267,000. Finally, Geode Capital Management LLC bought a new stake in BGM Group during the second quarter valued at about $412,000.

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.