Ginkgo Bioworks Holdings Inc [DNA] Stock trading around $1.32 per share: What’s Next?

Ginkgo Bioworks Holdings Inc [NYSE: DNA] stock went on a downward path that fall over 0.00% on Friday, amounting to a one-week price decrease of less than -14.84%. The company report on February 22, 2024 at 7:00 AM that Ginkgo Bioworks Announces Date of Fourth Quarter and Full Year 2023 Results Presentation.

Presentation and Q&A session scheduled for post-market on Thursday, February 29, 2024.

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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, 2023, on Thursday, February 29, 2024, beginning at 5:30 p.m. ET.

Over the last 12 months, DNA stock dropped by -21.43%. The one-year Ginkgo Bioworks Holdings Inc stock forecast points to a potential upside of 56.29. The average equity rating for DNA stock is currently 3.14, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.64 billion, with 1.34 billion shares outstanding and 1.32 billion shares in the current float. Compared to the average trading volume of 21.50M shares, DNA stock reached a trading volume of 9520602 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $3.02 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 3.14. 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.

Raymond James have made an estimate for Ginkgo Bioworks Holdings Inc shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on November 14, 2023. The new note on the price target was released on November 09, 2023, representing the official price target for Ginkgo Bioworks Holdings Inc stock. Previously, the target price had yet another drop from $3 to $1.25, while Goldman kept a Sell rating on DNA stock.

The Average True Range (ATR) for Ginkgo Bioworks Holdings Inc is set at 0.10, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 8.37. The Price to Book ratio for the last quarter was 1.95, with the Price to Cash per share for the same quarter was set at 0.53.

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 -14.84. With this latest performance, DNA shares gained by 6.45% in over the last four-week period, additionally sinking by -26.26% over the last 6 months – not to mention a drop of -21.43% 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 47.39, with the RSI for the last a single of trading hit 46.29, and the three-weeks RSI is set at 47.54 for Ginkgo Bioworks Holdings Inc [DNA]. The present Moving Average for the last 50 days of trading for this stock 1.4312, while it was recorded at 1.3540 for the last single week of trading, and 1.6631 for the last 200 days.

Insight into Ginkgo Bioworks Holdings Inc Fundamentals:

Ginkgo Bioworks Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.78 and a Current Ratio set at 6.78.

DNA Stock EPS

With the latest financial reports released by the company, Ginkgo Bioworks Holdings Inc posted -0.09/share EPS, while the average EPS was predicted by analysts to be reported at -0.21/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 57.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for DNA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ginkgo Bioworks Holdings Inc go to 31.70%.

Ginkgo Bioworks Holdings Inc [DNA] Institutonal Ownership Details

The top three institutional holders of DNA stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in DNA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in DNA stock with ownership which is approximately 5.8325%.