Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Grows By 83.4%

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

Institutional Investors Weigh In On BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC lifted its stake in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,830 shares of the company’s stock after acquiring 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 SEC filing. 18.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of BioNexus Gene Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

BioNexus Gene Lab Price Performance

NASDAQ BGLC traded up $0.24 during trading hours on Monday, reaching $1.81. The company’s stock had a trading volume of 70,219 shares, compared to its average volume of 50,576. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.69 and a current ratio of 6.53. The company’s 50-day moving average is $1.85 and its two-hundred day moving average is $2.13. BioNexus Gene Lab has a fifty-two week low of $1.07 and a fifty-two week high of $6.10. The stock has a market cap of $4.37 million, a PE ratio of -1.43 and a beta of 4.17.

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

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.