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

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the recipient of a significant growth in short interest in July. As of July 31st, there was short interest totaling 6,424 shares, a growth of 83.4% from the July 15th total of 3,503 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 10,796 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC raised its stake in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 47,830 shares of the company’s stock after buying an additional 33,179 shares during the quarter. DRW Securities LLC owned about 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 raised shares of BioNexus Gene Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, August 5th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

BioNexus Gene Lab Trading Down 4.3%

Shares of BioNexus Gene Lab stock traded down $0.07 during trading hours on Friday, hitting $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 market capitalization of $3.80 million, a PE ratio of -1.25 and a beta of 4.16. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.53 and a quick ratio of 5.69. The stock has a 50 day moving average of $1.85 and a 200 day moving average of $2.14. BioNexus Gene Lab has a 12 month low of $1.07 and a 12 month high of $6.10.

BioNexus Gene Lab (NASDAQ:BGLC) last released its quarterly earnings data on Friday, August 14th. The company reported ($0.12) earnings per share 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 $0.08 million for the quarter.

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.