Ginkgo Bioworks Holdings Inc [DNA] moved up 5.45: Why It’s Important

Ginkgo Bioworks Holdings Inc [NYSE: DNA] jumped around 0.06 points on Thursday, while shares priced at $1.16 at the close of the session, up 5.45%. The company report on March 28, 2024 at 7:02 AM that Ginkgo Bioworks Awarded DARPA Funding to Produce Novel Proteins to Control Ice in Extreme Cold Weather Environments.

Ginkgo Bioworks (NYSE: DNA), which is building the leading platform for cell programming and biosecurity, today announced that it has been awarded a contract for up to $6 million from the Defense Advanced Research Projects Agency (DARPA) to achieve DARPA’s objectives under its new Ice Control for cold Environments (ICE) program.

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DARPA’s ICE program aims to develop new materials that control the physical properties of ice crystals to facilitate operations in extreme cold weather environments, which can pose a variety of risks to both personnel health and critical equipment. To meet this goal, Ginkgo, in collaboration with Netrias, Cambium, and consultant Dr. Ran Drori, aims to develop novel biologically-sourced and inspired materials that leverage biological adaptations to cold environments.

Compared to the average trading volume of 22.44M shares, DNA reached a trading volume of 26045315 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 $1.97 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 0.09, with the Price to Sales ratio for DNA stock in the period of the last 12 months amounting to 9.38. The Price to Book ratio for the last quarter was 1.99, with the Price to Cash per share for the same quarter was set at 0.47.

How has DNA stock performed recently?

Ginkgo Bioworks Holdings Inc [DNA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.75. With this latest performance, DNA shares dropped by -23.68% in over the last four-week period, additionally sinking by -34.83% over the last 6 months – not to mention a drop of -3.33% 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 47.26, with the RSI for the last a single of trading hit 51.33, and the three-weeks RSI is set at 46.17 for Ginkgo Bioworks Holdings Inc [DNA]. The present Moving Average for the last 50 days of trading for this stock 1.2630, while it was recorded at 1.0980 for the last single week of trading, and 1.6237 for the last 200 days.

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

Ginkgo Bioworks Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.11 and a Current Ratio set at 6.11.

Earnings analysis for Ginkgo Bioworks Holdings Inc [DNA]

With the latest financial reports released by the company, Ginkgo Bioworks Holdings Inc posted -0.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.09/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -22.20%. 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 19.50%.

Insider trade positions for Ginkgo Bioworks Holdings Inc [DNA]

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%.