BGM Group (NASDAQ:BGM) Stock Price Down 1% – Should You Sell?

BGM Group Ltd. (NASDAQ:BGM) was down 1% during mid-day trading on Friday . The stock traded as low as $1.02 and last traded at $1.04. Approximately 32,715 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 111,259 shares. The stock had previously closed at $1.05.

Analyst Upgrades and Downgrades

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

BGM Group Trading Down 1.0%

The business’s 50-day moving average price is $3.20 and its 200 day moving average price is $6.69.

Institutional Trading of BGM Group

A number of large investors have recently modified their holdings of the business. Geode Capital Management LLC purchased a new position in shares of BGM Group during the second quarter worth about $412,000. Mariner LLC purchased a new stake in BGM Group in the third quarter valued at approximately $267,000. Finally, Marshall Wace LLP purchased a new stake in BGM Group in the second quarter valued at approximately $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.