BioNexus Gene Lab Corp. (NASDAQ:BGLC) Sees Large Growth in Short Interest

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 27,262 shares, an increase of 65.0% from the February 12th total of 16,524 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average trading volume of 10,269 shares, the days-to-cover ratio is presently 2.7 days. Based on an average trading volume of 10,269 shares, the days-to-cover ratio is presently 2.7 days. Currently, 1.2% of the company’s stock are short sold.

BioNexus Gene Lab Trading Up 2.4%

Shares of BioNexus Gene Lab stock traded up $0.05 on Friday, hitting $2.28. The stock had a trading volume of 4,708 shares, compared to its average volume of 24,735. The stock has a market cap of $5.39 million, a price-to-earnings ratio of -3.01 and a beta of 5.17. BioNexus Gene Lab has a 52-week low of $1.92 and a 52-week high of $15.60. The company’s 50 day moving average price is $2.81 and its 200 day moving average price is $4.19.

Institutional Investors Weigh In On BioNexus Gene Lab

An institutional investor recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC boosted its position in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,830 shares of the company’s stock after buying an additional 33,179 shares during the period. DRW Securities LLC owned approximately 2.02% of BioNexus Gene Lab worth $189,000 as of its most recent SEC filing. Institutional investors and hedge funds own 18.85% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of BioNexus Gene Lab in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, BioNexus Gene Lab has a consensus rating of “Sell”.

BioNexus Gene Lab Company Profile

BioNexus Gene Lab Corp., through its subsidiary, sells chemical raw material products in Malaysia, Indonesia, Vietnam, and other countries in Southeast Asia. The company offers chemical raw material products, which include Polyester Resin SHCP 268, a thixotropic, quick-curing unsaturated polyester resin suitable as a general-purpose resin; Polyester Resin 9509, a general-purpose material used in production of marine boats and water slides; and Polyester Resin 2802 used as a component in the pultrusion process by certain manufacturers.