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Ginkgo Bioworks Holdings Inc. (DNA) Is A Buy According To Analysts

Ginkgo Bioworks Holdings Inc. (NYSE:DNA) has seen 22.47 million shares traded in the last trading session. The company, currently valued at $2.83B, closed the last trade at $1.84 per share which meant it gained $0.18 on the day or 10.84% during that session. The DNA stock price is -246.74% off its 52-week high price of $6.38 and 21.2% above the 52-week low of $1.45. If we look at the company’s 10-day average daily trading volume, we find that it stood at 21.21 million shares traded. The 3-month trading volume is 23.67 million shares.

The consensus among analysts is that Ginkgo Bioworks Holdings Inc. (DNA) is an Overweight stock at the moment, with a recommendation rating of 2.10. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 2 out of 9 have rated it as a Hold, with 5 advising it as a Buy. 1 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.3.

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

Sporting 10.84% in the green in last session, the stock has traded in the red over the last five days, with the highest price hit on Monday, 01/23/23 when the DNA stock price touched $1.84 or saw a rise of 10.68%. Year-to-date, Ginkgo Bioworks Holdings Inc. shares have moved 8.88%, while the 5-day performance has seen it change -1.08%. Over the past 30 days, the shares of Ginkgo Bioworks Holdings Inc. (NYSE:DNA) have changed 11.52%. Short interest in the company has seen 156.3 million shares shorted with days to cover at 6.17.

Wall Street analysts have a consensus price target for the stock at $4.93, which means that the shares’ value could jump 62.68% from current levels. The projected low price target is $2.00 while the price target rests at a high of $12.00. In that case, then, we find that the current price level is -552.17% off the targeted high while a plunge would see the stock gain -8.7% from current levels.

Ginkgo Bioworks Holdings Inc. (DNA) estimates and forecasts

Figures show that Ginkgo Bioworks Holdings Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -36.99% over the past 6 months, with this year growth rate of -840.00%, compared to 4.50% for the industry. Other than that, the company has, however, lowered its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are -400.00% and 79.80% for the next quarter. Revenue growth from the last financial year stood is estimated to be 38.70%.

6 analysts offering their estimates for the company have set an average revenue estimate of $60.36 million for the current quarter. 6 have an estimated revenue figure of $70.31 million for the next quarter concluding in Dec 2022. Year-ago sales stood $45.75 million and $148.49 million respectively for this quarter and the next, and analysts expect sales will grow by 31.90% for the current quarter and -52.70% for the next.

DNA Dividends

Ginkgo Bioworks Holdings Inc. is expected to release its next earnings report on August 15 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 13.28% of the company shares, while shares held by institutions stand at 75.64% with a share float percentage of 87.22%. Investors are also buoyed by the number of investors in a company, with Ginkgo Bioworks Holdings Inc. having a total of 337 institutions that hold shares in the company. The top two institutional holders are Baillie Gifford and Company with over 204.08 million shares worth more than $636.72 million. As of Sep 29, 2022, Baillie Gifford and Company held 18.56% of shares outstanding.

The other major institutional holder is ARK Investment Management, LLC, with the holding of over 126.82 million shares as of Sep 29, 2022. The firm’s total holdings are worth over $395.67 million and represent 11.53% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF. As of Sep 29, 2022, the former fund manager holds about 7.65% shares in the company for having 84.14 million shares of worth $262.53 million while later fund manager owns 32.76 million shares of worth $102.21 million as of Sep 29, 2022, which makes it owner of about 2.98% of company’s outstanding stock.

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