Short Interest in BioNexus Gene Lab Corp. (NASDAQ:BGLC) Drops By 45.1%

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 101,600 shares, a decline of 45.1% from the September 30th total of 185,200 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 387,900 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of BioNexus Gene Lab

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

BioNexus Gene Lab Stock Performance

Shares of BGLC traded down $0.01 during mid-day trading on Friday, reaching $0.38. The stock had a trading volume of 25,020 shares, compared to its average volume of 643,405. The business has a fifty day moving average of $0.41 and a 200 day moving average of $0.48. BioNexus Gene Lab has a 12 month low of $0.31 and a 12 month high of $3.39.

BioNexus Gene Lab (NASDAQ:BGLC) last issued its quarterly earnings results 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.