Ginkgo Bioworks Holdings Inc. [DNA] Stock trading around $2.19 per share: What’s Next?

Ginkgo Bioworks Holdings Inc. [NYSE: DNA] traded at a high on 11/18/22, posting a 1.86 gain after which it closed the day’ session at $2.19. The company report on November 16, 2022 that Ginkgo Announces Public Offering of Class A Common Stock.

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Ginkgo Bioworks Holdings, Inc. (NYSE: DNA) (“Ginkgo”), which is building the leading platform for cell programing and biosecurity, today announced the sale of shares of  its Class A common stock for gross proceeds of approximately $100 million to BTIG, LLC, as the underwriter in the registered public offering of those shares. In connection with this offering, Ginkgo has granted the underwriter a 30-day option to purchase up to an additional $15 million of  shares of Class A common stock.

The last reported sale price of Ginkgo’s Class A common stock on November 15, 2022 was $2.67 per share.  The underwriter proposes to offer for sale the shares of common stock from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to the prevailing market prices or at negotiated prices, subject to receipt and acceptance by it and subject to its right to reject any order in whole or in part.

The results of the trading session contributed to over 21108135 shares changing hands. Over the past one week, the price volatility of Ginkgo Bioworks Holdings Inc. stands at 9.62% while the volatility over the past one month is 9.68%.

The market cap for DNA stock reached $3.74 billion, with 1.63 billion shares outstanding and 985.99 million shares in the current float. Compared to the average trading volume of 24.93M shares, DNA reached a trading volume of 21108135 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say 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 $6.61 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 0.27, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 7.09. The Price to Book ratio for the last quarter was 2.49, with the Price to Cash per share for the same quarter was set at 0.76.

How has DNA stock performed recently?

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 -23.16. With this latest performance, DNA shares dropped by -11.34% in over the last four-week period, additionally sinking by -16.09% over the last 6 months – not to mention a drop of -81.72% 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 39.07, with the RSI for the last a single of trading hit 36.17, and the three-weeks RSI is set at 41.14 for Ginkgo Bioworks Holdings Inc. [DNA]. The present Moving Average for the last 50 days of trading for this stock 2.80, while it was recorded at 2.40 for the last single week of trading, and 3.19 for the last 200 days.

Ginkgo Bioworks Holdings Inc. [DNA]: Deeper insight into the fundamentals

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 11.70 and a Current Ratio set at 11.70.

Insider trade positions for Ginkgo Bioworks Holdings Inc. [DNA]

There are presently around $2,038 million, or 74.30% of DNA stock, in the hands of institutional investors. The top three institutional holders of DNA stocks are: BAILLIE GIFFORD & CO with ownership of 206,667,116, which is approximately -0.602% of the company’s market cap and around 5.20% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 133,686,627 shares of the stock with an approximate value of $292.77 million in DNA stocks shares; and VIKING GLOBAL INVESTORS LP, currently with $223.02 million in DNA stock with ownership of nearly 275.992% 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 183 institutional holders increased their position in Ginkgo Bioworks Holdings Inc. [NYSE:DNA] by around 180,897,867 shares. Additionally, 108 investors decreased positions by around 87,781,299 shares, while 74 investors held positions by with 661,903,405 shares. The mentioned changes placed institutional holdings at 930,582,571 shares, according to the latest SEC report filing. DNA stock had 77 new institutional investments in for a total of 12,568,508 shares, while 47 institutional investors sold positions of 30,521,290 shares during the same period.


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