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

BioNexus Gene Lab Corp. (NASDAQ:BGLC) saw a significant increase in short interest in June. As of June 15th, there was short interest totaling 99,209 shares, an increase of 345.2% from the May 31st total of 22,284 shares. Currently, 4.1% of the shares of the company are sold short. Based on an average trading volume of 435,385 shares, the short-interest ratio is currently 0.2 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioNexus Gene Lab in a report on Tuesday, June 9th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of “Sell”.

BioNexus Gene Lab Price Performance

BGLC opened at $2.04 on Monday. BioNexus Gene Lab has a fifty-two week low of $1.07 and a fifty-two week high of $15.60. The firm has a 50-day moving average of $2.19 and a 200 day moving average of $2.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.69 and a current ratio of 6.53. The firm has a market cap of $4.92 million, a P/E ratio of -1.37 and a beta of 4.06.

BioNexus Gene Lab (NASDAQ:BGLC) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.23) EPS for the quarter. The company had revenue of $0.02 million during the quarter. BioNexus Gene Lab had a negative return on equity of 37.43% and a negative net margin of 54.70%.

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 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,830 shares of the company’s stock after purchasing an additional 33,179 shares during the period. DRW Securities LLC owned about 2.02% of BioNexus Gene Lab worth $189,000 as of its most recent SEC filing. Institutional investors own 18.85% of the company’s stock.

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.