BioNexus Gene Lab (NASDAQ:BGLC) Announces Quarterly Earnings Results

BioNexus Gene Lab (NASDAQ:BGLC) released its quarterly earnings results on Tuesday. The company reported ($0.52) earnings per share for the quarter, Zacks reports. BioNexus Gene Lab had a negative net margin of 24.26% and a negative return on equity of 30.18%.

BioNexus Gene Lab Stock Up 4.6%

Shares of BGLC traded up $0.10 during mid-day trading on Wednesday, hitting $2.27. 414 shares of the company’s stock were exchanged, compared to its average volume of 18,450. BioNexus Gene Lab has a 52 week low of $1.92 and a 52 week high of $15.60. The stock’s 50-day simple moving average is $2.33 and its 200-day simple moving average is $3.68. The firm has a market cap of $5.36 million, a price-to-earnings ratio of -2.99 and a beta of 4.98.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of BioNexus Gene Lab in a report on Monday, December 29th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, BioNexus Gene Lab presently has a consensus rating of “Sell”.

Institutional Trading of BioNexus Gene Lab

A hedge fund recently raised its stake in BioNexus Gene Lab stock. DRW Securities LLC increased its position in shares of BioNexus Gene Lab Corp. (NASDAQ:BGLC) by 226.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,830 shares of the company’s stock after acquiring an additional 33,179 shares during the period. DRW Securities LLC owned about 2.02% of BioNexus Gene Lab worth $189,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 18.85% of the company’s stock.

BioNexus Gene Lab Company Profile

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.