Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Drops By 78.3%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totalling 185,200 shares, a decrease of 78.3% from the September 15th total of 852,200 shares. Based on an average trading volume of 387,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.6% of the company’s shares are sold short.

Institutional Trading of BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. Virtu Financial LLC raised its holdings in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 79.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 47,037 shares of the company’s stock after purchasing an additional 20,888 shares during the quarter. Virtu Financial LLC owned 0.27% of BioNexus Gene Lab worth $33,000 as of its most recent SEC filing. Institutional investors own 18.85% of the company’s stock.

BioNexus Gene Lab Trading Down 4.8 %

Shares of BGLC traded down $0.02 during trading hours on Friday, hitting $0.40. 251,801 shares of the stock traded hands, compared to its average volume of 672,655. BioNexus Gene Lab has a 1-year low of $0.31 and a 1-year high of $3.39. The business has a fifty day moving average of $0.42 and a 200-day moving average of $0.50.

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

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.