Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Rises By 7.3%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 110,600 shares, an increase of 7.3% from the August 15th total of 103,100 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 136,800 shares, the days-to-cover ratio is presently 0.8 days.

Hedge Funds Weigh In On BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. Virtu Financial LLC grew its position in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 79.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 47,037 shares of the company’s stock after purchasing an additional 20,888 shares during the period. Virtu Financial LLC owned approximately 0.27% of BioNexus Gene Lab worth $33,000 at the end of the most recent quarter. 18.85% of the stock is owned by institutional investors and hedge funds.

BioNexus Gene Lab Stock Down 0.9 %

Shares of NASDAQ BGLC traded down $0.00 during trading on Wednesday, reaching $0.43. 40,881 shares of the stock traded hands, compared to its average volume of 723,798. BioNexus Gene Lab has a 52-week low of $0.31 and a 52-week high of $3.39. The company has a 50-day moving average of $0.45 and a 200-day moving average of $0.55.

BioNexus Gene Lab (NASDAQ:BGLC) last released its earnings results on Wednesday, August 14th. The company reported $0.01 EPS for the quarter. The company had revenue of $1.98 million during the quarter. BioNexus Gene Lab had a negative return on equity of 23.07% and a negative net margin of 24.01%.

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.