BioNexus Gene Lab Corp. (NASDAQ:BGLC) Short Interest Up 345.2% in June

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 99,209 shares, an increase of 345.2% from the May 31st total of 22,284 shares. Based on an average daily trading volume, of 435,385 shares, the short-interest ratio is presently 0.2 days. Approximately 4.1% of the shares of the company are short sold.

BioNexus Gene Lab Stock Performance

BGLC stock traded down $0.01 during mid-day trading on Friday, reaching $2.04. The company had a trading volume of 1,201 shares, compared to its average volume of 283,041. BioNexus Gene Lab has a one year low of $1.07 and a one year high of $15.60. The stock has a market capitalization of $4.92 million, a P/E ratio of -1.37 and a beta of 4.06. The company has a quick ratio of 5.69, a current ratio of 6.53 and a debt-to-equity ratio of 0.01. The stock’s 50-day simple moving average is $2.19 and its two-hundred day simple moving average is $2.69.

BioNexus Gene Lab (NASDAQ:BGLC) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.23) 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 firm had revenue of $0.02 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of BioNexus Gene Lab in a report on Tuesday, June 9th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

Hedge Funds Weigh In On BioNexus Gene Lab

An institutional investor recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC raised its holdings in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,830 shares of the company’s stock after acquiring an additional 33,179 shares during the period. DRW Securities LLC owned approximately 2.02% of BioNexus Gene Lab worth $189,000 as of its most recent SEC filing. 18.85% of the stock is owned by institutional investors and hedge funds.

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.