BioNexus Gene Lab (NASDAQ:BGLC) Stock Price Up 1.7% – Still a Buy?

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was up 1.7% during trading on Friday . The stock traded as high as $2.45 and last traded at $2.43. Approximately 13,358 shares were traded during trading, a decline of 73% from the average daily volume of 49,084 shares. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

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

BioNexus Gene Lab Price Performance

The company’s 50 day simple moving average is $3.26 and its 200 day simple moving average is $4.49. The company has a market capitalization of $5.73 million, a PE ratio of -3.20 and a beta of 5.27.

Hedge Funds Weigh In On BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC lifted its position in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,830 shares of the company’s stock after purchasing an additional 33,179 shares during the period. DRW Securities LLC owned about 2.02% of BioNexus Gene Lab worth $189,000 at the end of the most recent reporting period. Institutional investors own 18.85% of the company’s stock.

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.