BONL: A Micro-Cap Quiet as a Whisper

BONL enters the final days of April with almost nothing happening — and that's the story.

Bonal International is a genuine micro-cap curiosity. Market cap is roughly $1.9 million. The stock closed at $1.10 on April 28, down about 1.8% on the week, the month, and indeed the past month — a move so uniform it suggests a single tick lower rather than any sustained selling pressure. With no short interest data available through ORTEX's lending market feeds, the borrow situation is effectively unmeasurable, which itself signals the stock is too small and illiquid to attract meaningful institutional short positioning.

The earnings record adds a little colour. The four most recent prints show a mixed pattern: a 3.4% gain after November 2025 results, a 1.2% rise after the August 2025 release, and a 9.1% drop after the June 2025 print. No next event is scheduled, so there is no near-term catalyst to focus positioning around. The stock's moves around results have been modest by any standard — the largest single-day swing in recent history is less than 10%.

Valuation data is sparse but telling. Enterprise value is roughly $583,000, implying the business itself — after accounting for cash and debt — is valued at well under a million dollars. That is the territory of a company with very limited analyst coverage, no Wall Street research presence, and no options market to speak of. Analyst consensus, price targets, and factor scores are all absent from current data feeds, confirming BONL sits well outside institutional radar. The last dividend on record was a $0.05 cash payment announced in June 2022 — nearly four years ago — making dividend yield a non-factor at this price.