BGM Group (NASDAQ:BGM) Sees Strong Trading Volume – Time to Buy?

BGM Group Ltd. (NASDAQ:BGM) shares saw unusually-high trading volume on Wednesday . Approximately 38,025 shares were traded during trading, an increase of 309% from the previous session’s volume of 9,307 shares.The stock last traded at $9.2960 and had previously closed at $9.64.

Analyst Ratings Changes

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

BGM Group Trading Up 4.7%

The business’s fifty day moving average price is $9.19 and its 200 day moving average price is $10.27.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in BGM Group stock. Geode Capital Management LLC bought a new position in shares of BGM Group Ltd. (NASDAQ:BGM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 38,913 shares of the company’s stock, valued at 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.