Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Declines By 16.6%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 22,737 shares, a decrease of 16.6% from the February 26th total of 27,262 shares. Currently, 1.0% of the company’s stock are sold short. Based on an average daily volume of 6,023 shares, the days-to-cover ratio is presently 3.8 days.

BioNexus Gene Lab Price Performance

Shares of BioNexus Gene Lab stock opened at $2.35 on Monday. The firm has a market cap of $5.56 million, a price-to-earnings ratio of -3.09 and a beta of 5.17. The stock has a 50-day simple moving average of $2.51 and a 200-day simple moving average of $3.95. BioNexus Gene Lab has a 52-week low of $1.92 and a 52-week high of $15.60.

Analyst Ratings Changes

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

Institutional Trading of BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC grew its holdings in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,830 shares of the company’s stock after purchasing an additional 33,179 shares during the quarter. DRW Securities LLC owned about 2.02% of BioNexus Gene Lab worth $189,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 18.85% of the company’s stock.

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.