BioNexus Gene Lab (NASDAQ:BGLC) Announces Quarterly Earnings Results

BioNexus Gene Lab (NASDAQ:BGLC) announced its quarterly earnings results on Friday. The company reported ($0.12) earnings per share (EPS) for the quarter, FiscalAI reports. The company had revenue of $0.08 million during the quarter. BioNexus Gene Lab had a negative net margin of 54.70% and a negative return on equity of 37.43%.

BioNexus Gene Lab Price Performance

Shares of NASDAQ:BGLC traded down $0.07 on Friday, reaching $1.57. The company’s stock had a trading volume of 2,135 shares, compared to its average volume of 15,683. The company has a 50-day simple moving average of $1.85 and a 200 day simple moving average of $2.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.69 and a current ratio of 6.53. BioNexus Gene Lab has a 52-week low of $1.07 and a 52-week high of $6.10. The company has a market cap of $3.79 million, a P/E ratio of -1.06 and a beta of 4.16.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of BioNexus Gene Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, BioNexus Gene Lab currently has an average rating of “Sell”.

Institutional Investors Weigh In On BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC lifted its holdings in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 47,830 shares of the company’s stock after buying 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 quarter. Institutional investors and hedge funds 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.