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Bionano Genomics Inc (NASDAQ: BNGO) Disappoints Wall Street With 8.15% Stock Price Gain

In the last trading session, 1.91 million Bionano Genomics Inc (NASDAQ:BNGO) shares changed hands as the company’s beta touched 2.20. With the company’s per share price at $1.46 changed hands at $0.11 or 8.15% during last session, the market valuation stood at $56.71M. BNGO’s last price was a discount, traded about -1715.07% off its 52-week high of $26.50. The share price had its 52-week low at $1.19, which suggests the last value was 18.49% up since then. When we look at Bionano Genomics Inc’s average trading volume, we note the 10-day average is 1.23 million shares, with the 3-month average coming to 863.12K.

Analysts gave the Bionano Genomics Inc (BNGO) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.40. If we narrow down to specifics, the data shows that 0 out of 5 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 1 recommended BNGO as a Hold, 4 felt it is a Buy and 0 rated the stock as Underweight. Bionano Genomics Inc’s EPS for the current quarter is expected to be -$0.87.

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Bionano Genomics Inc (NASDAQ:BNGO) trade information

Instantly BNGO was in green as seen at the end of in last trading. With action 14.06%, the performance over the past five days has been green. The jump to weekly highs of 1.5100 on Monday, 11/20/23 added 8.15% to the stock’s daily price. The company’s shares are showing year-to-date downside of -90.00%, with the 5-day performance at 14.06% in the green. However, in the 30-day time frame, Bionano Genomics Inc (NASDAQ:BNGO) is -9.32% down. Looking at the short shares, we see there were 6.61 million shares sold at short interest cover period of 7.9 days.

The consensus price target for the stock as assigned by Wall Street analysts is $12.33, meaning bulls need an upside of 88.16% from its current market value. According to analyst projections, BNGO’s forecast low is $6.00 with $24.00 as the target high. To hit the forecast high, the stock’s price needs a -1543.84% plunge from its current level, while the stock would need to soar -310.96% for it to hit the projected low.

Bionano Genomics Inc (BNGO) estimates and forecasts

Data shows that the Bionano Genomics 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 -78.68% over the past 6 months, a 52.61% in annual growth rate that is considerably higher than the industry average of 14.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Bionano Genomics Inc will rise 33.10%, while the growth in revenue is estimated to hit 37.50% for the next quarter. Year-over-year growth is forecast to reach 29.30% up from the last financial year.

Consensus estimates given by 4 financial analysts project the company’s revenue in the current quarter to hit an average of $10.54 million. 4 analysts are of the opinion that Bionano Genomics Inc’s revenue for the quarter ending Mar 2024 will be $10.86 million. The company’s revenue for the corresponding quarters a year ago was $8.21 million and $7.42 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 28.30%. The estimates for the next quarter sales put growth at 46.50%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 27.80%. The 2023 estimates are for Bionano Genomics Inc earnings to decrease by -26.96%.

BNGO Dividends

Bionano Genomics Inc is expected to release its next quarterly earnings report on November 08.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 1.74% or 0.61 million shares worth $0.37 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 0.89 million shares estimated at $0.54 million under it, the former controlled 2.52% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 1.15% of the shares, roughly 0.41 million shares worth around $0.25 million.

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