Ginkgo Bioworks Holdings Inc (NYSE:DNA) price on Wednesday, December 04, rose 6.99% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $10.41.
A look at the stock’s price movement, the close in the last trading session was $9.73, moving within a range at $9.23 and $10.48. Turning to its 52-week performance, $75.20 and $5.26 were the 52-week high and 52-week low respectively. Overall, DNA moved 36.44% over the past month.
Ginkgo Bioworks Holdings Inc’s market cap currently stands at around $598.36 million, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 44.43M for the company’s revenue for the quarter, with a low and high estimate of 43.1M and 46.8M respectively. The average forecast suggests up to a 27.83% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 227.68M, representing a -9.45% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that DNA is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.
5 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 1 analyst(s) rate the stock as a Hold, 2 recommend DNA as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 2 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
DNA’s current price about 29.87% and 29.46% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 70.72, while 7-day volatility ratio is 8.76% and 9.95% in the 30-day chart. Further, Ginkgo Bioworks Holdings Inc (DNA) has a beta value of 1.16, and an average true range (ATR) of 0.74. Analysts have given the company’s stock an average 52-week price target of $7, forecast between a low of $7 and high of $7. Looking at the price targets, the low is 32.76% off current price level while to achieve the yearly target high, price needs to move 32.76%. Nonetheless, investors will most likely welcome a 32.76% jump to $7 which is the analysts’ median price.
If we refocus on Ginkgo Bioworks Holdings Inc (NYSE:DNA), historical trading data shows that trading volumes averaged 1.04 over the past 10 days and 1.28 million over the past 3 months. The company’s latest data on shares outstanding shows there are 41.37 million shares.
The 33.34% of Ginkgo Bioworks Holdings Inc’s shares are in the hands of company insiders while institutional holders own 47.97% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 7.32 million on 2024-11-15, giving us a short ratio of 6.57. The data shows that as of 2024-11-15 short interest in Ginkgo Bioworks Holdings Inc (DNA) stood at 2198.0 of shares outstanding, with shares short falling to 7.88 million registered in 2024-10-15. Current price change has pushed the stock -84.60% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the DNA stock continues to rise going into the next quarter.
