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 growth in short interest in the month of May. As of May 29th, there was short interest totaling 22,284 shares, a growth of 110.7% from the May 14th total of 10,574 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 59,516 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analysts Forecast Growth

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

BioNexus Gene Lab Stock Up 1.4%

Shares of BGLC stock traded up $0.03 on Friday, hitting $2.14. The stock had a trading volume of 155,696 shares, compared to its average volume of 275,424. The firm has a market capitalization of $5.18 million, a price-to-earnings ratio of -1.45 and a beta of 4.06. The stock’s 50 day moving average is $2.16 and its 200-day moving average is $2.83. 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 $15.60.

BioNexus Gene Lab (NASDAQ:BGLC) last announced its 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 firm had revenue of $0.02 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC raised its stake in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during 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 acquiring 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. 18.85% of the stock is owned by institutional investors.

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.