Ginkgo Bioworks Holdings Inc (NYSE: DNA): Is It A Life-Changing Stock?

In the latest trading session, 5.17 million Ginkgo Bioworks Holdings Inc (NYSE:DNA) shares changed hands as the company’s beta touched 1.37. With the company’s most recent per share price at $1.55 changing hands around $0.03 or 1.97% at last look, the market valuation stands at $3.03B. DNA’s current price is a discount, trading about -64.52% off its 52-week high of $2.55. The share price had its 52-week low at $1.12, which suggests the last value was 27.74% up since then. When we look at Ginkgo Bioworks Holdings Inc’s average trading volume, we note the 10-day average is 23.37 million shares, with the 3-month average coming to 19.85 million.

Analysts gave the Ginkgo Bioworks Holdings Inc (DNA) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.67. If we narrow down to specifics, the data shows that 1 out of 9 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended DNA as a Hold, 3 felt it is a Buy and 1 rated the stock as Underweight. Ginkgo Bioworks Holdings Inc’s EPS for the current quarter is expected to be -$0.1.

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Ginkgo Bioworks Holdings Inc (NYSE:DNA) trade information

Instantly DNA is in green as seen in intraday trades today. With action 21.09%, the performance over the past five days has been green. The jump to weekly highs of 1.5900 on Friday, 11/17/23 added 1.97% to the stock’s daily price. The company’s shares are showing year-to-date downside of -8.28%, with the 5-day performance at 21.09% in the green. However, in the 30-day time frame, Ginkgo Bioworks Holdings Inc (NYSE:DNA) is -1.27% down. Looking at the short shares, we see there were 235.94 million shares sold at short interest cover period of 14.14 days.

The consensus price target for the stock as assigned by Wall Street analysts is $3.38, meaning bulls need an upside of 54.14% from its recent market value. According to analyst projections, DNA’s forecast low is $1.25 with $7.00 as the target high. To hit the forecast high, the stock’s price needs a -351.61% plunge from its current level, while the stock would need to tank 19.35% for it to hit the projected low.

Ginkgo Bioworks Holdings Inc (DNA) estimates and forecasts

Data shows that the Ginkgo Bioworks Holdings Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 2.65% over the past 6 months, a 56.98% in annual growth rate that is considerably higher than the industry average of 14.90%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Ginkgo Bioworks Holdings Inc will fall -11.10%, while the growth in revenue is estimated to hit 27.30% for the next quarter. Year-over-year growth is forecast to reach -45.80% down from the last financial year.

Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $42.53 million. 5 analysts are of the opinion that Ginkgo Bioworks Holdings Inc’s revenue for the quarter ending Mar 2024 will be $62.32 million. The company’s revenue for the corresponding quarters a year ago was $98.28 million and $80.7 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -56.70%. The estimates for the next quarter sales put growth at -22.80%.

The 2023 estimates are for Ginkgo Bioworks Holdings Inc earnings to increase by 66.70%, but the outlook for the next 5-year period is at 31.70% per year.

DNA Dividends

Ginkgo Bioworks Holdings Inc is expected to release its next quarterly earnings report on November 08.

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

If we look at who the major shareholders are, we find that insiders hold 8.36% of Ginkgo Bioworks Holdings Inc shares while 80.98% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 88.37%. There are 80.98% institutions holding the Ginkgo Bioworks Holdings Inc stock share, with Baillie Gifford and Company the top institutional holder. As of Jun 29, 2023, the company held 15.06% of the shares, roughly 241.08 million DNA shares worth $448.41 million.

ARK Investment Management, LLC holds the second largest percentage of outstanding shares, with 11.38% or 182.19 million shares worth $329.77 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Sep 29, 2023 were ARK ETF Tr-ARK Innovation ETF and ARK ETF Tr-ARK Genomic Revolution ETF. With 116.78 million shares estimated at $211.37 million under it, the former controlled 7.29% of total outstanding shares. On the other hand, ARK ETF Tr-ARK Genomic Revolution ETF held about 3.19% of the shares, roughly 51.14 million shares worth around $92.57 million.

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