BioNexus Gene Lab Corp. (NASDAQ:BGLC) Short Interest Up 38.2% in October

Posted by Alanna Baker on Nov 16th, 2024

BioNexus Gene Lab Corp. (NASDAQ:BGLC – Get Free Report) was the target of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 140,400 shares, an increase of 38.2% from the October 15th total of 101,600 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 376,900 shares, the days-to-cover ratio is currently 0.4 days.

BioNexus Gene Lab Stock Down 6.3 %

NASDAQ BGLC traded down $0.02 during trading on Friday, hitting $0.30. 58,573 shares of the company’s stock were exchanged, compared to its average volume of 605,466. The stock’s 50 day moving average price is $0.39 and its two-hundred day moving average price is $0.46. BioNexus Gene Lab has a fifty-two week low of $0.28 and a fifty-two week high of $3.39.

BioNexus Gene Lab (NASDAQ:BGLC – Get Free Report) last issued its quarterly earnings data 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 during the quarter.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in BioNexus Gene Lab stock. Virtu Financial LLC increased its position in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC – Free Report) by 79.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,037 shares of the company’s stock after acquiring an additional 20,888 shares during the period. Virtu Financial LLC owned about 0.27% of BioNexus Gene Lab worth $33,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 18.85% of the company’s stock.

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.