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

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

BioNexus Gene Lab Price Performance

Shares of NASDAQ:BGLC traded down $0.07 during trading on Monday, hitting $1.74. 4,122 shares of the stock were exchanged, compared to its average volume of 57,373. The company has a fifty day moving average price of $2.14 and a two-hundred day moving average price of $2.52. The company has a market cap of $4.21 million, a PE ratio of -1.18 and a beta of 4.08. 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 12-month low of $1.07 and a 12-month high of $8.98.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

An institutional investor recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC boosted its holdings in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 47,830 shares of the company’s stock after acquiring an additional 33,179 shares during the period. DRW Securities LLC owned 2.02% of BioNexus Gene Lab worth $189,000 as of its most recent filing with the Securities and Exchange Commission. 18.85% of the stock is currently owned by hedge funds and other institutional investors.

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.