BGM Group (NASDAQ:BGM) Stock Price Down 1.9% – Here’s Why

BGM Group Ltd. (NASDAQ:BGM)’s share price fell 1.9% on Thursday . The company traded as low as $3.31 and last traded at $3.58. 2,434 shares were traded during mid-day trading, a decline of 62% from the average session volume of 6,400 shares. The stock had previously closed at $3.65.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of BGM Group in a research report on Wednesday, January 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has an average rating of “Sell”.

BGM Group Price Performance

The stock’s 50-day moving average price is $4.93 and its 200-day moving average price is $7.56.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC acquired a new stake in BGM Group during the 2nd quarter valued at approximately $412,000. Mariner LLC bought a new stake in shares of BGM Group during the third quarter valued at approximately $267,000. Finally, Marshall Wace LLP acquired a new stake in shares of BGM Group in the 2nd quarter worth about $218,000.

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.