Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Declines By 58.1%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the recipient of a significant decline in short interest in April. As of April 15th, there was short interest totaling 9,968 shares, a decline of 58.1% from the March 31st total of 23,800 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average trading volume of 2,220 shares, the days-to-cover ratio is currently 4.5 days.

Institutional Investors Weigh In On BioNexus Gene Lab

An institutional investor recently raised its position in BioNexus Gene Lab stock. DRW Securities LLC lifted its holdings in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the fourth quarter, according to its most recent disclosure with the SEC. 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 approximately 2.02% of BioNexus Gene Lab worth $189,000 at the end of the most recent quarter. 18.85% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of BioNexus Gene Lab in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, BioNexus Gene Lab currently has an average rating of “Sell”.

BioNexus Gene Lab Stock Performance

Shares of BioNexus Gene Lab stock opened at $2.20 on Friday. The company has a market capitalization of $5.32 million, a PE ratio of -1.72 and a beta of 4.98. The company has a 50-day simple moving average of $2.35 and a two-hundred day simple moving average of $3.51. BioNexus Gene Lab has a one year low of $1.92 and a one year high of $15.60.

BioNexus Gene Lab (NASDAQ:BGLC) last announced its earnings results on Tuesday, April 14th. The company reported ($0.52) EPS for the quarter. BioNexus Gene Lab had a negative return on equity of 38.85% and a negative net margin of 40.19%.The firm had revenue of $0.48 million during the quarter.

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.