BioNexus Gene Lab Corp. (NASDAQ:BGLC) Short Interest Down 85.2% in June

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the recipient of a significant decrease in short interest during 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. Currently, 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 21,386 shares, the short-interest ratio is currently 0.7 days.

Analyst Ratings Changes

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

BioNexus Gene Lab Price Performance

Shares of BGLC traded up $0.08 during mid-day trading on Friday, hitting $1.81. 9,400 shares of the company were exchanged, compared to its average volume of 18,920. The stock has a market cap of $4.38 million, a price-to-earnings ratio of -1.22 and a beta of 4.08. BioNexus Gene Lab has a 1-year low of $1.07 and a 1-year high of $8.98. The company has a 50 day moving average of $2.14 and a 200-day moving average of $2.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.69 and a current ratio of 6.53.

BioNexus Gene Lab (NASDAQ:BGLC) last announced its earnings results on Friday, May 15th. The company reported ($0.23) earnings per share (EPS) for the quarter. The business had revenue of $0.02 million for the quarter. BioNexus Gene Lab had a negative return on equity of 37.43% and a negative net margin of 54.70%.

Institutional Inflows and Outflows

A hedge fund recently raised its position 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 disclosure with the Securities and Exchange Commission. The firm owned 47,830 shares of the company’s stock after purchasing an additional 33,179 shares during the period. DRW Securities LLC owned approximately 2.02% of BioNexus Gene Lab worth $189,000 at the end of the most recent reporting period. 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.