BioNexus Gene Lab Corp. (NASDAQ:BGLC) Short Interest Down 44.8% in May

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 58,500 shares, a decline of 44.8% from the May 15th total of 105,900 shares. Based on an average trading volume of 214,200 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.7% of the shares of the company are short sold.

BioNexus Gene Lab Stock Performance

NASDAQ BGLC traded down $0.04 on Friday, reaching $0.44. The stock had a trading volume of 131,294 shares, compared to its average volume of 323,953. The firm has a fifty day moving average of $0.57 and a two-hundred day moving average of $0.63. BioNexus Gene Lab has a 1-year low of $0.31 and a 1-year high of $17.88.

BioNexus Gene Lab (NASDAQ:BGLC) last released its earnings results on Wednesday, May 15th. The company reported ($0.02) earnings per share for the quarter. The company had revenue of $2.38 million for the quarter. BioNexus Gene Lab had a negative net margin of 27.24% and a negative return on equity of 30.74%.

Institutional Trading of BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. Virtu Financial LLC increased its holdings in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 79.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 47,037 shares of the company’s stock after buying an additional 20,888 shares during the quarter. Virtu Financial LLC owned 0.27% of BioNexus Gene Lab worth $33,000 at the end of the most recent reporting period. 18.85% of the stock is currently owned by hedge funds and other 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.