Bionano Genomics Inc (NASDAQ:BNGO) shares, rose in value, with the stock price down by -3.28% to the previous day’s close as strong demand from buyers drove the stock to $0.99.
Actively observing the price movement in the last trading, the stock closed the session at $1.02. The value of beta (5-year monthly) was 2.37. Referring to stock’s 52-week performance, its high was $11.80, and the low was $0.96. On the whole, BNGO has fluctuated by -17.10% over the past month.
With the market capitalization of Bionano Genomics Inc currently standing at about $53.95 million, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 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 -$0.87, which is expected to increase to -$0.57 for fiscal year -$6.61 and then to about -$1.89 by fiscal year 2024. Data indicates that the EPS growth is expected to be -43.70% in 2024, while the next year’s EPS growth is forecast to be 71.40%.
Analysts have estimated the company’s revenue for the quarter at $10.72 million, with a low estimate of $10.1 million and a high estimate of $11.11 million. According to the average forecast, sales growth in current quarter could jump up 30.50%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $36.12 million, representing an increase of 29.90% 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 BNGO’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 BNGO currently trading nearly -7.58% and -14.45% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 37.31, while the 7-day volatility ratio is showing 11.50% which for the 30-day chart, stands at 8.12%. Furthermore, Bionano Genomics Inc (BNGO)’s beta value is 2.38, and its average true range (ATR) is 0.09.
A comparison of Bionano Genomics Inc (BNGO) with its peers suggests the former has fared considerably weaker in the market. BNGO showed an intraday change of -3.28% in last session, and over the past year, it shrunk by -90.95%%.
Data on historical trading for Bionano Genomics Inc (NASDAQ:BNGO) indicates that the trading volumes over the past 10 days have averaged 1.42 million and over the past 3 months, they’ve averaged 1.59 million. According to company’s latest data on outstanding shares, there are 54.69 million shares outstanding.
Nearly 1.50% of Bionano Genomics Inc’s shares belong to company insiders and institutional investors own 11.30% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.47 million shares as on Mar 15, 2024, resulting in a short ratio of 3.66. According to the data, the short interest in Bionano Genomics Inc (BNGO) stood at 10.01% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 5.63 million. The stock has fallen by -47.80% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BNGO stock heading into the next quarter.
