why Ginkgo Bioworks Holdings Inc. [DNA] is a Good Choice for Investors After New Price Target of $4.92

Ginkgo Bioworks Holdings Inc. [NYSE: DNA] price plunged by -8.70 percent to reach at -$0.14. The company report on February 22, 2023 that Ginkgo Bioworks Announces Date of Fourth Quarter and Full Year 2022 Results Presentation.

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Presentation and Q&A session scheduled for post-market on Wednesday, March 1, 2023.

Ginkgo Bioworks (NYSE: DNA), which is building the leading platform for cell programming and biosecurity, today announced that it plans to host a presentation and Q&A session reviewing business performance for the fourth quarter and full year ended December 31, 2022, on Wednesday, March 1, 2023, beginning at 4:30 p.m. ET.

A sum of 30447805 shares traded at recent session while its average daily volume was at 20.77M shares. Ginkgo Bioworks Holdings Inc. shares reached a high of $1.565 and dropped to a low of $1.46 until finishing in the latest session at $1.47.

The one-year DNA stock forecast points to a potential upside of 70.12. The average equity rating for DNA stock is currently 2.10, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $4.92 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.

Berenberg have made an estimate for Ginkgo Bioworks Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on November 29, 2022. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Equal-Weight. The new note on the price target was released on October 04, 2022, representing the official price target for Ginkgo Bioworks Holdings Inc. stock. Previously, the target price had yet another raise to $3, while BofA Securities analysts kept a Underperform rating on DNA stock.

The Average True Range (ATR) for Ginkgo Bioworks Holdings Inc. is set at 0.15, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 5.59. The Price to Book ratio for the last quarter was 1.67, with the Price to Cash per share for the same quarter was set at 0.65.

DNA Stock Performance Analysis:

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 -16.48. With this latest performance, DNA shares dropped by -16.48% in over the last four-week period, additionally sinking by -48.24% over the last 6 months – not to mention a drop of -65.57% 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 36.55, with the RSI for the last a single of trading hit 30.72, and the three-weeks RSI is set at 39.72 for Ginkgo Bioworks Holdings Inc. [DNA]. The present Moving Average for the last 50 days of trading for this stock 1.7468, while it was recorded at 1.6200 for the last single week of trading, and 2.5026 for the last 200 days.

Insight into Ginkgo Bioworks Holdings Inc. 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.

Ginkgo Bioworks Holdings Inc. [DNA] Insider Position Details

There are presently around $1,466 million, or 88.00% of DNA stock, in the hands of institutional investors. The top three institutional holders of DNA stocks are: BAILLIE GIFFORD & CO with ownership of 244,176,643, which is approximately 18.15% of the company’s market cap and around 5.40% of the total institutional ownership; ARK INVESTMENT MANAGEMENT LLC, holding 144,384,067 shares of the stock with an approximate value of $212.25 million in DNA stocks shares; and VANGUARD GROUP INC, currently with $149.24 million in DNA stock with ownership of nearly 15.22% of the company’s market capitalization.

Positions in Ginkgo Bioworks Holdings Inc. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 190 institutional holders increased their position in Ginkgo Bioworks Holdings Inc. [NYSE:DNA] by around 128,643,645 shares. Additionally, 141 investors decreased positions by around 63,023,650 shares, while 63 investors held positions by with 805,537,146 shares. The mentioned changes placed institutional holdings at 997,204,441 shares, according to the latest SEC report filing. DNA stock had 78 new institutional investments in for a total of 19,855,871 shares, while 65 institutional investors sold positions of 11,946,788 shares during the same period.


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