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

BioNexus Gene Lab Corp. (NASDAQ:BGLC) saw a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 177,900 shares, an increase of 204.1% from the May 31st total of 58,500 shares. Based on an average daily volume of 216,100 shares, the short-interest ratio is presently 0.8 days. Currently, 2.3% of the company’s shares are short sold.

BioNexus Gene Lab Price Performance

Shares of BGLC stock traded up $0.01 on Friday, hitting $0.48. 24,258 shares of the company’s stock traded hands, compared to its average volume of 321,325. BioNexus Gene Lab has a one year low of $0.31 and a one year high of $17.88. The company’s fifty day simple moving average is $0.53 and its 200 day simple moving average is $0.61.

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

Institutional Investors Weigh In On BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. Virtu Financial LLC lifted its stake in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 79.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,037 shares of the company’s stock after purchasing an additional 20,888 shares during the period. Virtu Financial LLC owned 0.27% of BioNexus Gene Lab worth $33,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 18.85% of the company’s stock.

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.