BioNexus Gene Lab (NASDAQ:BGLC) Shares Up 3.5% – Here’s Why

BioNexus Gene Lab Corp. (NASDAQ:BGLC) shares shot up 3.5% during trading on Monday . The company traded as high as $2.10 and last traded at $2.09. 11,352 shares changed hands during mid-day trading, an increase of 146% from the average session volume of 4,622 shares. The stock had previously closed at $2.02.

BioNexus Gene Lab Stock Up 2.9%

The company has a debt-to-equity ratio of 0.01, a quick ratio of 9.16 and a current ratio of 6.53. The firm has a fifty day simple moving average of $2.23 and a 200-day simple moving average of $3.15. The company has a market capitalization of $5.23 million, a PE ratio of -1.46 and a beta of 4.09.

BioNexus Gene Lab (NASDAQ:BGLC) last released its earnings results on Friday, May 15th. The company reported ($0.22) EPS for the quarter. BioNexus Gene Lab had a negative net margin of 54.70% and a negative return on equity of 37.43%. The business had revenue of $0.02 million for the quarter.

Institutional Investors Weigh In On BioNexus Gene Lab

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

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.