Baird Medical Investment (NASDAQ:BDMD) Shares Up 0.7% – Here’s Why

Baird Medical Investment Holdings Limited (NASDAQ:BDMD)’s share price shot up 0.7% during mid-day trading on Friday . The stock traded as high as $1.44 and last traded at $1.40. 178,756 shares traded hands during mid-day trading, an increase of 47% from the average session volume of 121,344 shares. The stock had previously closed at $1.39.

Analyst Ratings Changes

Several brokerages recently commented on BDMD. Weiss Ratings reiterated a “sell (d)” rating on shares of Baird Medical Investment in a research note on Thursday, October 30th. Wall Street Zen raised Baird Medical Investment from a “sell” rating to a “hold” rating in a report on Saturday. One analyst has rated the stock with a Sell rating, According to MarketBeat, Baird Medical Investment presently has an average rating of “Sell”.

Baird Medical Investment Stock Performance

The stock’s 50 day moving average is $1.43 and its two-hundred day moving average is $2.59.

Hedge Funds Weigh In On Baird Medical Investment

Several institutional investors have recently added to or reduced their stakes in BDMD. XTX Topco Ltd purchased a new stake in shares of Baird Medical Investment during the 1st quarter worth $111,000. Geode Capital Management LLC increased its holdings in Baird Medical Investment by 59.7% during the 2nd quarter. Geode Capital Management LLC now owns 25,442 shares of the company’s stock valued at $93,000 after acquiring an additional 9,511 shares in the last quarter. Jane Street Group LLC purchased a new position in Baird Medical Investment during the 2nd quarter valued at about $142,000. Finally, Citadel Advisors LLC acquired a new position in Baird Medical Investment during the third quarter worth about $99,000. Institutional investors and hedge funds own 19.78% of the company’s stock.

About Baird Medical Investment

Baird Medical Investment Holdings Ltd. is a medical technology company, which engages in the development and provision of medical devices. It is also involved in the design, development, manufacturing, and sale of microwave ablation medical devices, as well as sale of other medical devices. The company was founded on June 16, 2023 and is headquartered in Guangzhou, China.