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

BioNexus Gene Lab Corp. (NASDAQ:BGLC) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 157,300 shares, a growth of 206.0% from the August 31st total of 51,400 shares. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is currently 0.1 days. Currently, 12.4% of the company’s stock are sold short. Currently, 12.4% of the company’s stock are sold short. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is currently 0.1 days.

BioNexus Gene Lab Stock Down 1.3%

Shares of NASDAQ:BGLC opened at $5.29 on Friday. BioNexus Gene Lab has a 1 year low of $2.01 and a 1 year high of $15.60. The stock’s fifty day moving average price is $5.51 and its 200-day moving average price is $4.15.

BioNexus Gene Lab (NASDAQ:BGLC) last announced its quarterly earnings results on Monday, August 18th. The company reported ($0.34) earnings per share (EPS) for the quarter. The business had revenue of $2.26 million for the quarter. BioNexus Gene Lab had a negative net margin of 30.70% and a negative return on equity of 35.54%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of BioNexus Gene Lab in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, BioNexus Gene Lab currently has an average rating of “Sell”.

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.