Ginkgo Bioworks Holdings, Inc. (NYSE:DNA – Get Rating) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totalling 156,300,000 shares, a decrease of 8.7% from the September 30th total of 171,280,000 shares. Currently, 19.2% of the shares of the stock are sold short. Based on an average trading volume of 26,650,000 shares, the short-interest ratio is presently 5.9 days.
Ginkgo Bioworks Stock Up 2.3 %
Ginkgo Bioworks stock traded up $0.06 during trading hours on Friday, hitting $2.69. The company had a trading volume of 18,261,007 shares, compared to its average volume of 25,778,970. The firm has a market capitalization of $4.80 billion, a P/E ratio of -1.37 and a beta of 1.14. The company has a debt-to-equity ratio of 0.03, a current ratio of 11.84 and a quick ratio of 11.78. The firm’s fifty day moving average is $2.85 and its 200-day moving average is $2.94. Ginkgo Bioworks has a fifty-two week low of $2.09 and a fifty-two week high of $15.86.
Ginkgo Bioworks (NYSE:DNA – Get Rating) last released its quarterly earnings data on Monday, August 15th. The company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.36). The company had revenue of $144.62 million during the quarter, compared to analyst estimates of $69.95 million. Ginkgo Bioworks had a negative net margin of 549.38% and a negative return on equity of 47.12%. On average, research analysts forecast that Ginkgo Bioworks will post -0.79 earnings per share for the current year.
Insider Transactions at Ginkgo Bioworks
In other news, major shareholder Barry Canton sold 343,072 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $3.12, for a total value of $1,070,384.64. Following the completion of the sale, the insider now directly owns 26,212,735 shares of the company’s stock, valued at approximately $81,783,733.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, major shareholder Barry Canton sold 343,072 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $3.12, for a total value of $1,070,384.64. Following the sale, the insider now directly owns 26,212,735 shares in the company, valued at approximately $81,783,733.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Reshma P. Shetty sold 343,071 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $3.12, for a total transaction of $1,070,381.52. Following the completion of the sale, the insider now owns 26,212,736 shares in the company, valued at $81,783,736.32. The disclosure for this sale can be found here. In the last three months, insiders sold 3,646,603 shares of company stock valued at $10,062,438. Company insiders own 17.47% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the stock. Lincoln National Corp bought a new stake in Ginkgo Bioworks in the second quarter worth approximately $26,000. Atria Wealth Solutions Inc. bought a new stake in Ginkgo Bioworks in the second quarter worth approximately $30,000. Lake Street Financial LLC bought a new stake in Ginkgo Bioworks in the third quarter worth approximately $31,000. Cetera Investment Advisers bought a new stake in Ginkgo Bioworks in the second quarter worth approximately $33,000. Finally, First Horizon Advisors Inc. bought a new stake in Ginkgo Bioworks in the second quarter worth approximately $38,000. Institutional investors and hedge funds own 53.37% of the company’s stock.
Wall Street Analysts Forecast Growth
DNA has been the topic of a number of research reports. Morgan Stanley initiated coverage on shares of Ginkgo Bioworks in a report on Tuesday, October 4th. They issued an “equal weight” rating and a $5.00 target price on the stock. Raymond James boosted their price target on shares of Ginkgo Bioworks from $11.50 to $14.50 and gave the company an “outperform” rating in a report on Tuesday, August 16th. Finally, BTIG Research boosted their price target on shares of Ginkgo Bioworks from $5.00 to $6.00 and gave the company a “buy” rating in a report on Tuesday, August 16th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.41.
Ginkgo Bioworks Company Profile
Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. The company serves various end markets, including specialty chemicals, agriculture, food, consumer products, and pharmaceuticals.
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