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

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 27,262 shares, a growth of 65.0% from the February 12th total of 16,524 shares. Based on an average trading volume of 10,269 shares, the days-to-cover ratio is currently 2.7 days. Currently, 1.2% of the company’s stock are sold short. Currently, 1.2% of the company’s stock are sold short. Based on an average trading volume of 10,269 shares, the days-to-cover ratio is currently 2.7 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of BioNexus Gene Lab in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

BioNexus Gene Lab Stock Up 2.4%

BioNexus Gene Lab stock traded up $0.05 during trading on Friday, reaching $2.28. The stock had a trading volume of 4,708 shares, compared to its average volume of 24,735. BioNexus Gene Lab has a 52-week low of $1.92 and a 52-week high of $15.60. The stock has a market cap of $5.39 million, a PE ratio of -3.01 and a beta of 5.17. The business has a 50 day moving average price of $2.81 and a 200 day moving average price of $4.19.

Hedge Funds Weigh In On BioNexus Gene Lab

An institutional investor recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC boosted its holdings in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the 4th quarter, according to its most recent disclosure 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 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 currently owned by institutional investors.

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.