BioNexus Gene Lab Corp. (NASDAQ:BGLC) Short Interest Up 83.4% in July

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 6,424 shares, an increase of 83.4% from the July 15th total of 3,503 shares. Based on an average trading volume of 10,796 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.3% of the company’s shares are short sold.

Institutional Inflows and Outflows

An institutional investor recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC increased its position in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,830 shares of the company’s stock after acquiring an additional 33,179 shares during the quarter. DRW Securities LLC owned about 2.02% of BioNexus Gene Lab worth $189,000 as of its most recent SEC filing. Institutional investors own 18.85% of the company’s stock.

BioNexus Gene Lab Trading Down 4.3%

NASDAQ:BGLC traded down $0.07 during mid-day trading on Friday, hitting $1.57. The company had a trading volume of 2,135 shares, compared to its average volume of 15,683. BioNexus Gene Lab has a fifty-two week low of $1.07 and a fifty-two week high of $6.10. The business’s fifty day moving average is $1.85 and its two-hundred day moving average is $2.14. The company has a debt-to-equity ratio of 0.01, a quick ratio of 5.69 and a current ratio of 6.53. The firm has a market cap of $3.80 million, a P/E ratio of -1.25 and a beta of 4.16.

BioNexus Gene Lab (NASDAQ:BGLC) last issued its earnings results on Friday, August 14th. The company reported ($0.12) earnings per share (EPS) for the quarter. The company had revenue of $0.08 million for the quarter. BioNexus Gene Lab had a negative return on equity of 37.43% and a negative net margin of 54.70%.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of BioNexus Gene Lab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BioNexus Gene Lab presently 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.