Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Decreases By 76.1%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the recipient of a significant drop in short interest in the month of July. As of July 15th, there was short interest totaling 3,503 shares, a drop of 76.1% from the June 30th total of 14,642 shares. Based on an average daily volume of 5,583 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.1% of the shares of the company are short sold.

BioNexus Gene Lab Price Performance

Shares of NASDAQ:BGLC traded down $0.14 on Monday, reaching $1.37. 6,995 shares of the company were exchanged, compared to its average volume of 53,690. The company has a current ratio of 6.53, a quick ratio of 5.69 and a debt-to-equity ratio of 0.01. BioNexus Gene Lab has a 1-year low of $1.07 and a 1-year high of $8.98. The firm has a market cap of $3.32 million, a price-to-earnings ratio of -0.93 and a beta of 4.08. The company has a 50-day moving average of $2.06 and a 200-day moving average of $2.35.

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

Hedge Funds Weigh In On BioNexus Gene Lab

An institutional investor recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC boosted its position in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the fourth quarter, according to the company in its most recent Form 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 at the end of the most recent reporting period. Institutional investors own 18.85% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of BioNexus Gene Lab from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company 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.