Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Expands By 110.7%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) saw a significant increase in short interest in the month of May. As of May 29th, there was short interest totaling 22,284 shares, an increase of 110.7% from the May 14th total of 10,574 shares. Based on an average daily trading volume, of 59,516 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.9% of the company’s shares are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC increased its position in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% in the 4th quarter, according to 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 quarter. 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. Institutional investors own 18.85% of the company’s stock.

BioNexus Gene Lab Trading Up 1.4%

BGLC traded up $0.03 during trading on Friday, hitting $2.14. 155,696 shares of the company’s stock were exchanged, compared to its average volume of 275,424. 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 $15.60. The stock has a 50 day moving average price of $2.16 and a 200 day moving average price of $2.83. The firm has a market cap of $5.18 million, a P/E ratio of -1.45 and a beta of 4.06.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of BioNexus Gene Lab in a research note on Tuesday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BioNexus Gene Lab presently 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.