Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Expands By 110.7%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 22,284 shares, an increase of 110.7% from the May 14th total of 10,574 shares. Based on an average daily trading volume, of 59,516 shares, the short-interest ratio is currently 0.4 days. Currently, 0.9% of the company’s shares are short sold.

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 fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,830 shares of the company’s stock after buying an additional 33,179 shares during the period. DRW Securities LLC owned 2.02% of BioNexus Gene Lab worth $189,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 18.85% of the stock is owned by institutional investors and hedge funds.

BioNexus Gene Lab Stock Up 1.4%

NASDAQ:BGLC traded up $0.03 during midday trading on Friday, reaching $2.14. The company had a trading volume of 155,696 shares, compared to its average volume of 275,424. The firm has a market capitalization of $5.17 million, a price-to-earnings ratio of -1.45 and a beta of 4.06. The stock’s fifty day simple moving average is $2.16 and its 200-day simple moving average is $2.83. BioNexus Gene Lab has a 12-month low of $1.07 and a 12-month high of $15.60. The company has a current ratio of 6.53, a quick ratio of 5.69 and a debt-to-equity ratio of 0.01.

BioNexus Gene Lab (NASDAQ:BGLC) last released its earnings results on Friday, May 15th. The company reported ($0.23) earnings per share (EPS) for the quarter. The company had revenue of $0.02 million during the quarter. BioNexus Gene Lab had a negative net margin of 54.70% and a negative return on equity of 37.43%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioNexus Gene Lab in a report on Tuesday. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock 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.