Baird Medical Investment (NASDAQ:BDMD) Stock Price Up 6.9% – Here’s What Happened

Shares of Baird Medical Investment Holdings Limited (NASDAQ:BDMD) were up 6.9% during trading on Wednesday . The stock traded as high as $1.12 and last traded at $1.09. Approximately 132,910 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 120,300 shares. The stock had previously closed at $1.02.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BDMD shares. Wall Street Zen upgraded Baird Medical Investment from a “sell” rating to a “hold” rating in a report on Saturday, December 13th. Weiss Ratings restated a “sell (d)” rating on shares of Baird Medical Investment in a research note on Thursday, October 30th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

Baird Medical Investment Price Performance

The stock’s 50-day simple moving average is $1.35 and its 200-day simple moving average is $1.80.

Hedge Funds Weigh In On Baird Medical Investment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BDMD. Citadel Advisors LLC purchased a new stake in shares of Baird Medical Investment during the 3rd quarter valued at approximately $99,000. Jane Street Group LLC purchased a new stake in shares of Baird Medical Investment in the second quarter worth $142,000. Finally, Geode Capital Management LLC boosted its position in shares of 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 during the last quarter. Institutional investors 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.