BioNexus Gene Lab Corp. (NASDAQ:BGLC) Sees Significant Decrease in Short Interest

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a large decline in short interest in the month of March. As of March 13th, there was short interest totaling 22,737 shares, a decline of 16.6% from the February 26th total of 27,262 shares. Currently, 1.0% of the company’s shares are short sold. Based on an average trading volume of 6,023 shares, the short-interest ratio is currently 3.8 days.

Institutional Trading of BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC grew its position in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,830 shares of the company’s stock after purchasing an additional 33,179 shares during the quarter. DRW Securities LLC owned approximately 2.02% of BioNexus Gene Lab worth $189,000 at the end of the most recent reporting period. 18.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

BioNexus Gene Lab Price Performance

Shares of BGLC stock traded up $0.15 on Wednesday, hitting $2.29. The stock had a trading volume of 2,083 shares, compared to its average volume of 20,842. The firm has a market capitalization of $5.39 million, a P/E ratio of -3.01 and a beta of 5.17. BioNexus Gene Lab has a 1 year low of $1.92 and a 1 year high of $15.60. The company’s 50 day moving average price is $2.45 and its 200-day moving average price is $3.91.

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.