Ginkgo Bioworks Holdings Inc. [NYSE: DNA] gained 4.05% or 0.1 points to close at $2.57 with a heavy trading volume of 25969828 shares. The company report on October 20, 2022 that Bolt Threads Announces Latest Collaboration with Ginkgo Bioworks to Optimize its Mylo™ Material.
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Program builds on the existing relationship between the partners following existing b-silk™ protein optimization project.
Bolt Threads, a biotechnology company creating the next generation of advanced materials, and Ginkgo Bioworks (NYSE: DNA), the leading horizontal platform for cell programming, today announced a multi-project collaboration to increase the production efficiency and performance of Bolt’s current portfolio as well as expand it by developing novel proteins for biomaterials. The first program in this collaboration aims to optimize the production efficiency of Bolt’s Mylo™ material, a leather alternative made out of mycelium, the underground root-like system of fungi.
It opened the trading session at $2.45, the shares rose to $2.60 and dropped to $2.34, the range by which the price of stock traded the whole day. The daily chart for DNA points out that the company has recorded -24.41% loss over the past six months. However, it is still -22.97% lower than its most recent low trading price.
If we look at the average trading volume of 26.22M shares, DNA reached to a volume of 25969828 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Ginkgo Bioworks Holdings Inc. [DNA]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for DNA shares is $7.61 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on DNA stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Ginkgo Bioworks Holdings Inc. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on October 04, 2022. The new note on the price target was released on May 18, 2022, representing the official price target for Ginkgo Bioworks Holdings Inc. stock. Previously, the target price had yet another raise to $12, while Cowen analysts kept a Outperform rating on DNA stock.
The Average True Range (ATR) for Ginkgo Bioworks Holdings Inc. is set at 0.28, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 8.30. The Price to Book ratio for the last quarter was 2.71, with the Price to Cash per share for the same quarter was set at 0.79.
Trading performance analysis for DNA stock
Ginkgo Bioworks Holdings Inc. [DNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.77. With this latest performance, DNA shares dropped by -12.88% in over the last four-week period, additionally sinking by -24.41% over the last 6 months – not to mention a drop of -80.55% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for DNA stock in for the last two-week period is set at 41.72, with the RSI for the last a single of trading hit 35.45, and the three-weeks RSI is set at 42.56 for Ginkgo Bioworks Holdings Inc. [DNA]. The present Moving Average for the last 50 days of trading for this stock 2.94, while it was recorded at 2.54 for the last single week of trading, and 3.50 for the last 200 days.
Ginkgo Bioworks Holdings Inc. [DNA]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and Ginkgo Bioworks Holdings Inc. [DNA] shares currently have an operating margin of -582.43 and a Gross Margin at +53.93. Ginkgo Bioworks Holdings Inc.’s Net Margin is presently recorded at -583.12.
Return on Equity for this stock declined to -243.13, with Return on Assets sitting at -176.62.
Ginkgo Bioworks Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 11.80 and a Current Ratio set at 11.80.
An analysis of insider ownership at Ginkgo Bioworks Holdings Inc. [DNA]
There are presently around $2,288 million, or 81.00% of DNA stock, in the hands of institutional investors. The top three institutional holders of DNA stocks are: BAILLIE GIFFORD & CO with ownership of 207,918,059, which is approximately 22.059% of the company’s market cap and around 7.10% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 133,686,627 shares of the stock with an approximate value of $343.57 million in DNA stocks shares; and VANGUARD GROUP INC, currently with $227.34 million in DNA stock with ownership of nearly 178.169% of the company’s market capitalization.
Positions in Ginkgo Bioworks Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 187 institutional holders increased their position in Ginkgo Bioworks Holdings Inc. [NYSE:DNA] by around 237,375,404 shares. Additionally, 85 investors decreased positions by around 116,237,586 shares, while 59 investors held positions by with 536,702,807 shares. The mentioned changes placed institutional holdings at 890,315,797 shares, according to the latest SEC report filing. DNA stock had 94 new institutional investments in for a total of 18,943,510 shares, while 34 institutional investors sold positions of 9,705,039 shares during the same period.