Ginkgo Bioworks Holdings Inc (NYSE:DNA) shares, rose in value on Thursday, April 04, with the stock price up by 2.75% to the previous day’s close as strong demand from buyers drove the stock to $1.12.
Actively observing the price movement in the recent trading, the stock is buoying the session at $1.09. The value of beta (5-year monthly) is 1.42. Referring to stock’s 52-week performance, its high was $2.55, and the low was $1.03. On the whole, DNA has fluctuated by -2.61% over the past month.
With the market capitalization of Ginkgo Bioworks Holdings Inc currently standing at about $2.28 billion, investors are eagerly awaiting this quarter’s results, scheduled for Feb 29, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.08, which is expected to increase to -$0.07 for fiscal year -$0.32 and then to about -$0.27 by fiscal year 2025. Data indicates that the EPS growth is expected to be 30.40% in 2025, while the next year’s EPS growth is forecast to be 15.60%.
Analysts have estimated the company’s revenue for the quarter at $46.43 million, with a low estimate of $43 million and a high estimate of $49.93 million. According to the average forecast, sales growth in current quarter could jump down -42.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $223.54 million, representing a decrease of -11.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that DNA’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of DNA currently trading nearly -0.71% and -10.81% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.96, while the 7-day volatility ratio is showing 8.48% which for the 30-day chart, stands at 7.01%. Furthermore, Ginkgo Bioworks Holdings Inc (DNA)’s beta value is 1.36, and its average true range (ATR) is 0.08.
A comparison of Ginkgo Bioworks Holdings Inc (DNA) with its peers suggests the former has fared considerably weaker in the market. DNA showed an intraday change of 2.75% in today’s session so far, and over the past year, it shrunk by -11.81%%.
Data on historical trading for Ginkgo Bioworks Holdings Inc (NYSE:DNA) indicates that the trading volumes over the past 10 days have averaged 16.89 million and over the past 3 months, they’ve averaged 22.55 million. According to company’s latest data on outstanding shares, there are 1.53 billion shares outstanding.
Nearly 33.94% of Ginkgo Bioworks Holdings Inc’s shares belong to company insiders and institutional investors own 58.54% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 262.24 million shares as on Mar 15, 2024, resulting in a short ratio of 9.97. According to the data, the short interest in Ginkgo Bioworks Holdings Inc (DNA) stood at 12.18% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 250.23 million. The stock has fallen by -33.73% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DNA stock heading into the next quarter.
