BGM Group (NASDAQ:BGM) Stock Price Down 5% – What’s Next?

by · The Cerbat Gem

BGM Group Ltd. (NASDAQ:BGM – Get Free Report) shares dropped 5% during trading on Thursday . The company traded as low as $7.22 and last traded at $7.1950. Approximately 12,413 shares were traded during trading, a decline of 72% from the average daily volume of 43,706 shares. The stock had previously closed at $7.57.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of BGM Group in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, BGM Group currently has a consensus rating of “Sell”.

View Our Latest Analysis on BGM

BGM Group Stock Down 4.9%

The company’s fifty day moving average price is $9.05 and its two-hundred day moving average price is $9.84.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of BGM Group in the 2nd quarter worth approximately $218,000. Mariner LLC bought a new position in BGM Group in the 3rd quarter valued at $267,000. Finally, Geode Capital Management LLC acquired a new position in BGM Group in the second quarter worth $412,000.

About BGM Group

(Get Free Report)

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.

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