BioNexus Gene Lab Corp. (NASDAQ:BGLC) Short Interest Up 670.5% in September

Posted by Alanna Baker on Sep 27th, 2024

BioNexus Gene Lab Corp. (NASDAQ:BGLC – Get Free Report) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 852,200 shares, an increase of 670.5% from the August 31st total of 110,600 shares. Based on an average daily volume of 369,600 shares, the short-interest ratio is presently 2.3 days. Currently, 7.3% of the shares of the stock are sold short.

BioNexus Gene Lab Price Performance

NASDAQ:BGLC traded up $0.02 on Friday, reaching $0.45. The stock had a trading volume of 41,734 shares, compared to its average volume of 705,169. BioNexus Gene Lab has a 1-year low of $0.31 and a 1-year high of $3.39. The stock has a fifty day moving average price of $0.44 and a 200-day moving average price of $0.53.

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

Hedge Funds Weigh In On BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. Virtu Financial LLC increased its holdings in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC – Free Report) by 79.9% in the first quarter, according to the company in its most recent 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 filing with the SEC. 18.85% of the stock is owned by institutional investors.

About BioNexus Gene Lab

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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.