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After A -1.00% Drop In Share Price, Is Ginkgo Bioworks Holdings Inc. (NYSE:DNA) A Better Trade Than Others?

In last trading session, Ginkgo Bioworks Holdings Inc. (NYSE:DNA) saw 22.49 million shares changing hands with its beta currently measuring 0. Company’s recent per share price level of $1.98 trading at -$0.02 or -1.00% at ring of the bell on the day assigns it a market valuation of $3.38B. That closing price of DNA’s stock is at a discount of -561.11% from its 52-week high price of $13.09 and is indicating a premium of 2.02% from its 52-week low price of $1.94. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 32.92 million shares which gives us an average trading volume of 24.91 million if we extend that period to 3-months.

For Ginkgo Bioworks Holdings Inc. (DNA), analysts’ consensus is at an average recommendation of an Overweight while assigning it a mean rating of 2.10. Splitting up the data highlights that, out of 7 analysts covering the stock, 0 rated the stock as a Sell while 1 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 3 see the stock as a Buy. 1 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.3 in the current quarter.

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Ginkgo Bioworks Holdings Inc. (NYSE:DNA) trade information

Upright in the red during last session for losing -1.00%, in the last five days DNA remained trading in the red while hitting it’s week-highest on Thursday, 11/17/22 when the stock touched $1.98 price level, adding 11.21% to its value on the day. Ginkgo Bioworks Holdings Inc.’s shares saw a change of -76.17% in year-to-date performance and have moved -14.66% in past 5-day. Ginkgo Bioworks Holdings Inc. (NYSE:DNA) showed a performance of -28.26% in past 30-days. Number of shares sold short was 156.3 million shares which calculate 6.17 days to cover the short interests.

Wall Street analysts have assigned a consensus price target of $5.50 to the stock, which implies a rise of 64.0% to its current value. Analysts have been projecting $3.00 as a low price target for the stock while placing it at a high target of $12.00. It follows that stock’s current price would drop -506.06% in reaching the projected high whereas dropping to the targeted low would mean a loss of -51.52% for stock’s current value.

Ginkgo Bioworks Holdings Inc. (DNA) estimates and forecasts

Statistics highlight that Ginkgo Bioworks Holdings Inc. is scoring comparatively lower than the scores of other players of the relevant industry. The company lost -31.25% of value to its shares in past 6 months, showing an annual growth rate of -840.00% while that of industry is 4.40. Apart from that, the company came lowering its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to decrease by -400.00% in the current quarter and calculating 79.80% increase in the next quarter. This year revenue growth is estimated to rise 38.70% from the last financial year’s standing.

6 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $60.36 million for the same. And 6 analysts are in estimates of company making revenue of $70.31 million in the next quarter that will end on Dec 2022. Company posted $45.75 million and $148.49 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 31.90% while estimating it to be -52.70% for the next quarter.

DNA Dividends

Ginkgo Bioworks Holdings Inc. is more likely to be releasing its next quarterly report on August 15 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Ginkgo Bioworks Holdings Inc. (NYSE:DNA)’s Major holders

Insiders are in possession of 13.28% of company’s total shares while institution are holding 75.64 percent of that, with stock having share float percentage of 87.22%. Investors also watch the number of corporate investors in a company very closely, which is 75.64% institutions for Ginkgo Bioworks Holdings Inc. that are currently holding shares of the company. Baillie Gifford and Company is the top institutional holder at DNA for having 204.08 million shares of worth $636.72 million. And as of Sep 29, 2022, it was holding 18.56% of the company’s outstanding shares.

The second largest institutional holder is ARK Investment Management, LLC, which was holding about 126.82 million shares on Sep 29, 2022. The number of shares represents firm’s hold over 11.53% of outstanding shares, having a total worth of $395.67 million.

On the other hand, ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF are the top two Mutual Funds which own company’s shares. As of Sep 29, 2022, the former fund manager was holding 84.14 million shares of worth $262.53 million or 7.65% of the total outstanding shares. The later fund manager was in possession of 32.76 million shares on Sep 29, 2022, making its stake of worth around $102.21 million in the company or a holder of 2.98% of company’s stock.

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