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The Business Case For Buying Ginkgo Bioworks Holdings Inc (NYSE: DNA) Stock Now

Ginkgo Bioworks Holdings Inc (NYSE:DNA) price is hovering lower on Tuesday, February 13, dropping -8.61% below its previous close.

A look at today’s price movement shows that the recent level at last check reads $1.51. The company’s 5Y monthly beta was ticking 1.30. Taking into account the 52-week price action we note that the stock hit a 52-week high of $2.55 and 52-week low of $1.12. The stock added 6.15% on its value in the past month.

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Ginkgo Bioworks Holdings Inc, which has a market valuation of $2.76 billion, is expected to release its quarterly earnings report Mar 01, 2024 – Mar 05, 2024.

Revisions to the company’s EPS highlights a short term direction of a stock’s price movement, which in the last 7 days came up with no upward and no downward reviews. On the technical perspective front, indicators give DNA a short term outlook of 50% Sell on average. Looking at the stock’s medium term indicators we note that it is averaging as a 100% Sell, while an average of long term indicators are currently assigning the stock as 100% Sell.

The overview shows that DNA’s price is at present 8.70% off the SMA20 and -3.05% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 51.88, with weekly volatility standing at 8.04%. The indicator jumps to 7.64% when calculated based on the past 30 days. Ginkgo Bioworks Holdings Inc (NYSE:DNA)’s beta value is holding at 1.38, while the average true range (ATR) indicator is currently reading 0.10.

An analysis of the Ginkgo Bioworks Holdings Inc (NYSE:DNA) stock in terms of its daily trading volume indicates that the 3-month average is 2.80. However, this figure increases on the past 10-day timeline to an average of 20.46 million.

Current records show that the company has 1.34B in outstanding shares. The insiders’ percentage holdings are 33.82% of outstanding shares while the percentage share held by institutions stands at 58.83%. The stats also highlight that short interest as of Jan 31, 2024, stood at 236.91 million shares, which puts the short ratio at the time at 10.44. From this we can glean that short interest is 11.18% of company’s current outstanding shares. Notably, we see that shares short in January rose slightly given the previous month’s figure stood at 235.5 million. But the -18.34% downside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.