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

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

BioNexus Gene Lab Stock Performance

BGLC stock opened at $0.38 on Friday. The business has a 50 day moving average price of $0.41 and a two-hundred day moving average price of $0.49. BioNexus Gene Lab has a twelve month low of $0.31 and a twelve month high of $3.39.

BioNexus Gene Lab (NASDAQ:BGLC) last issued its earnings results on Wednesday, August 14th. The company reported $0.01 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 company 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 lifted its holdings in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 79.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 47,037 shares of the company’s stock after acquiring an additional 20,888 shares during the quarter. Virtu Financial LLC owned approximately 0.27% of BioNexus Gene Lab worth $33,000 as of its most recent SEC filing. Institutional investors own 18.85% of the company’s stock.

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.