Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Declines By 38.3%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) saw a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 17,038 shares, a decrease of 38.3% from the December 31st total of 27,606 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 6,680 shares, the days-to-cover ratio is currently 2.6 days. Based on an average trading volume of 6,680 shares, the days-to-cover ratio is currently 2.6 days. Currently, 0.7% of the company’s shares are sold short.

BioNexus Gene Lab Stock Performance

Shares of NASDAQ:BGLC traded down $0.10 during mid-day trading on Friday, hitting $2.55. 12,116 shares of the company traded hands, compared to its average volume of 27,334. The firm’s 50 day simple moving average is $3.90 and its 200 day simple moving average is $4.82. The firm has a market cap of $6.02 million, a P/E ratio of -3.36 and a beta of 5.26. BioNexus Gene Lab has a 52-week low of $2.01 and a 52-week high of $15.60.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of BioNexus Gene Lab in a report on Monday, December 29th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, BioNexus Gene Lab has a consensus 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.