Oppenheimer slashes price target on Bionano Genomics Inc. [BNGO] – find out why.

Bionano Genomics Inc. [NASDAQ: BNGO] gained 2.24% or 0.05 points to close at $2.28 with a heavy trading volume of 7004245 shares. The company report on November 3, 2022 that Bionano Genomics Reports Third Quarter 2022 Financial Results and Highlights Recent Business Progress.


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free.

Sponsored


–  55% year-over-year revenue growth in Q3 2022.

–  On track to achieve all 2022 ELEVATE! milestones.

It opened the trading session at $2.24, the shares rose to $2.40 and dropped to $2.19, the range by which the price of stock traded the whole day. The daily chart for BNGO points out that the company has recorded 61.70% gains over the past six months. However, it is still -96.55% lower than its most recent low trading price.

If we look at the average trading volume of 8.40M shares, BNGO reached to a volume of 7004245 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 Bionano Genomics Inc. [BNGO]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BNGO shares is $8.67 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BNGO stock is a recommendation set at 1.30. 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.

Oppenheimer have made an estimate for Bionano Genomics Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 18, 2022. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on June 16, 2021, representing the official price target for Bionano Genomics Inc. stock. Previously, the target price had yet another raise to $1.25, while Ladenburg Thalmann analysts kept a Buy rating on BNGO stock.

The Average True Range (ATR) for Bionano Genomics Inc. is set at 0.22, with the Price to Sales ratio for BNGO stock in the period of the last 12 months amounting to 27.91. The Price to Book ratio for the last quarter was 2.28, with the Price to Cash per share for the same quarter was set at 0.66.

Trading performance analysis for BNGO stock

Bionano Genomics Inc. [BNGO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.20. With this latest performance, BNGO shares gained by 15.74% in over the last four-week period, additionally plugging by 61.70% over the last 6 months – not to mention a drop of -58.01% 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 BNGO stock in for the last two-week period is set at 52.69, with the RSI for the last a single of trading hit 53.18, and the three-weeks RSI is set at 52.01 for Bionano Genomics Inc. [BNGO]. The present Moving Average for the last 50 days of trading for this stock 2.17, while it was recorded at 2.26 for the last single week of trading, and 2.03 for the last 200 days.

Bionano Genomics Inc. [BNGO]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Bionano Genomics Inc. [BNGO] shares currently have an operating margin of -428.79 and a Gross Margin at +4.47. Bionano Genomics Inc.’s Net Margin is presently recorded at -402.84.

Return on Equity for this stock declined to -38.92, with Return on Assets sitting at -33.11.

Bionano Genomics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.00 and a Current Ratio set at 7.80.

An analysis of insider ownership at Bionano Genomics Inc. [BNGO]

There are presently around $183 million, or 28.90% of BNGO stock, in the hands of institutional investors. The top three institutional holders of BNGO stocks are: BLACKROCK INC. with ownership of 21,021,575, which is approximately 13.046% of the company’s market cap and around 0.30% of the total institutional ownership; VANGUARD GROUP INC, holding 15,634,397 shares of the stock with an approximate value of $35.65 million in BNGO stocks shares; and STATE STREET CORP, currently with $19.19 million in BNGO stock with ownership of nearly 8.944% of the company’s market capitalization.

Positions in Bionano Genomics Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 52 institutional holders increased their position in Bionano Genomics Inc. [NASDAQ:BNGO] by around 12,891,406 shares. Additionally, 75 investors decreased positions by around 5,406,130 shares, while 51 investors held positions by with 62,173,819 shares. The mentioned changes placed institutional holdings at 80,471,355 shares, according to the latest SEC report filing. BNGO stock had 18 new institutional investments in for a total of 1,616,960 shares, while 24 institutional investors sold positions of 1,769,722 shares during the same period.

LEAVE A REPLY

Please enter your comment!
Please enter your name here