BioNexus Gene Lab Corp. (NASDAQ:BGLC) Short Interest Up 83.4% in July

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a significant increase in short interest in July. As of July 31st, there was short interest totaling 6,424 shares, an increase of 83.4% from the July 15th total of 3,503 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 10,796 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC grew its holdings 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 and Exchange Commission. The institutional investor owned 47,830 shares of the company’s stock after acquiring an additional 33,179 shares during the quarter. DRW Securities LLC owned 2.02% of BioNexus Gene Lab worth $189,000 at the end of the most recent quarter. 18.85% of the stock is owned by hedge funds and other institutional investors.

BioNexus Gene Lab Price Performance

BGLC traded down $0.03 during trading on Tuesday, hitting $1.56. 4,075 shares of the stock traded hands, compared to its average volume of 50,600. The business has a 50 day moving average price of $1.84 and a 200 day moving average price of $2.12. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.53 and a quick ratio of 5.69. BioNexus Gene Lab has a twelve month low of $1.07 and a twelve month high of $6.10. The company has a market cap of $3.78 million, a price-to-earnings ratio of -1.24 and a beta of 4.16.

BioNexus Gene Lab (NASDAQ:BGLC) last issued its earnings results on Friday, August 14th. The company reported ($0.12) earnings per share for the quarter. BioNexus Gene Lab had a negative net margin of 82.38% and a negative return on equity of 32.85%. The business had revenue of $0.08 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of BioNexus Gene Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus 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.