Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Rises By 345.2%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the recipient of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 99,209 shares, a growth of 345.2% from the May 31st total of 22,284 shares. Based on an average trading volume of 435,385 shares, the short-interest ratio is currently 0.2 days. Approximately 4.1% of the company’s shares are short sold.

Wall Street Analyst Weigh In

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

Institutional Trading of BioNexus Gene Lab

A hedge fund recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC raised its position in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission. 18.85% of the stock is owned by hedge funds and other institutional investors.

BioNexus Gene Lab Trading Down 0.2%

NASDAQ BGLC traded down $0.01 during trading hours on Friday, reaching $2.04. The company had a trading volume of 1,201 shares, compared to its average volume of 283,041. The company has a current ratio of 6.53, a quick ratio of 5.69 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $4.92 million, a P/E ratio of -1.37 and a beta of 4.06. The stock has a 50-day moving average of $2.19 and a 200 day moving average of $2.69. BioNexus Gene Lab has a 1-year low of $1.07 and a 1-year high of $15.60.

BioNexus Gene Lab (NASDAQ:BGLC) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.23) 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 company had revenue of $0.02 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.