BioNexus Gene Lab Corp. (NASDAQ:BGLC) Short Interest Up 345.2% in June

BioNexus Gene Lab Corp. (NASDAQ:BGLC) saw a significant growth in short interest in 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. Approximately 4.1% of the shares of the company are sold short. Based on an average daily volume of 435,385 shares, the short-interest ratio is presently 0.2 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of BioNexus Gene Lab in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

Institutional Trading of BioNexus Gene Lab

An institutional investor recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC boosted 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 (SEC). The fund owned 47,830 shares of the company’s stock after purchasing an additional 33,179 shares during the period. 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 and hedge funds.

BioNexus Gene Lab Price Performance

Shares of BioNexus Gene Lab stock traded down $0.01 during trading on Friday, hitting $2.04. The stock had a trading volume of 1,201 shares, compared to its average volume of 283,041. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.53 and a quick ratio of 5.69. The firm has a market cap of $4.92 million, a P/E ratio of -1.37 and a beta of 4.06. The business has a fifty day moving average of $2.19 and a two-hundred day moving average of $2.69. BioNexus Gene Lab has a fifty-two week low of $1.07 and a fifty-two week high of $15.60.

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. BioNexus Gene Lab had a negative return on equity of 37.43% and a negative net margin of 54.70%.The firm had revenue of $0.02 million for the quarter.

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.