BioNexus Gene Lab (NASDAQ:BGLC) Posts Earnings Results

BioNexus Gene Lab (NASDAQ:BGLC) announced its earnings results on Tuesday. The company reported ($0.52) earnings per share for the quarter, Zacks reports. BioNexus Gene Lab had a negative net margin of 24.26% and a negative return on equity of 30.18%.

BioNexus Gene Lab Stock Performance

Shares of BGLC traded up $0.10 on Wednesday, hitting $2.27. 526 shares of the stock traded hands, compared to its average volume of 18,450. The company has a market capitalization of $5.36 million, a PE ratio of -2.99 and a beta of 4.98. The business has a 50 day simple moving average of $2.33 and a 200 day simple moving average of $3.68. BioNexus Gene Lab has a one year low of $1.92 and a one year high of $15.60.

Institutional Investors Weigh In On BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC boosted its stake in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,830 shares of the company’s stock after purchasing an additional 33,179 shares during the period. DRW Securities LLC owned approximately 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.

Wall Street Analyst Weigh In

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

About BioNexus Gene Lab

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.