Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Decreases By 85.2%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) saw a large decrease in short interest in the month of June. As of June 30th, there was short interest totaling 14,642 shares, a decrease of 85.2% from the June 15th total of 99,209 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 21,386 shares, the days-to-cover ratio is presently 0.7 days.

BioNexus Gene Lab Price Performance

BioNexus Gene Lab stock traded up $0.08 during midday trading on Friday, reaching $1.81. The company had a trading volume of 9,400 shares, compared to its average volume of 26,459. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.53 and a quick ratio of 5.69. BioNexus Gene Lab has a 12-month low of $1.07 and a 12-month high of $8.98. The company has a market capitalization of $4.38 million, a P/E ratio of -1.22 and a beta of 4.08. The firm’s fifty day simple moving average is $2.14 and its 200-day simple moving average is $2.53.

BioNexus Gene Lab (NASDAQ:BGLC) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.23) 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.

Institutional Trading of BioNexus Gene Lab

An institutional investor recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC boosted its position in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 47,830 shares of the company’s stock after purchasing an additional 33,179 shares during the quarter. DRW Securities LLC owned about 2.02% of BioNexus Gene Lab worth $189,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 18.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded BioNexus Gene Lab from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell”.

BioNexus Gene Lab Company Profile

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.