BioNexus Gene Lab Corp. (NASDAQ:BGLC) Short Interest Down 45.1% in October

BioNexus Gene Lab Corp. (NASDAQ:BGLC) was the target of a large decline in short interest in the month of 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. Based on an average daily volume of 387,900 shares, the days-to-cover ratio is currently 0.3 days. Approximately 0.9% of the shares of the company are sold short.

Hedge Funds Weigh In On BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. Virtu Financial LLC raised its stake in BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 79.9% in the 1st quarter, according to 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 acquiring an additional 20,888 shares during the period. Virtu Financial LLC owned approximately 0.27% of BioNexus Gene Lab worth $33,000 at the end of the most recent quarter. Institutional investors and hedge funds own 18.85% of the company’s stock.

BioNexus Gene Lab Stock Performance

BGLC opened at $0.38 on Friday. The business has a fifty day simple moving average of $0.41 and a 200 day simple moving average of $0.49. BioNexus Gene Lab has a 1 year low of $0.31 and a 1 year high of $3.39.

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

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.