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

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the recipient of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 22,284 shares, an increase of 110.7% from the May 14th total of 10,574 shares. Based on an average trading volume of 59,516 shares, the short-interest ratio is currently 0.4 days. Currently, 0.9% of the company’s shares are sold short.

BioNexus Gene Lab Trading Up 13.6%

NASDAQ:BGLC traded up $0.29 on Monday, reaching $2.43. The company’s stock had a trading volume of 52,944 shares, compared to its average volume of 63,273. BioNexus Gene Lab has a 1-year low of $1.07 and a 1-year high of $15.60. 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 $5.88 million, a PE ratio of -1.64 and a beta of 4.06. The business’s 50-day moving average price is $2.16 and its two-hundred day moving average price is $2.82.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC lifted its position in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,830 shares of the company’s stock after buying an additional 33,179 shares during the period. DRW Securities LLC owned about 2.02% of BioNexus Gene Lab worth $189,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 18.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of BioNexus Gene Lab in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to 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.