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Ginkgo Bioworks Holdings Inc (NYSE: DNA) Is Under Pressure Due To Weak Fundamental Momentum.

In the last trading session, 27.43 million Ginkgo Bioworks Holdings Inc (NYSE:DNA) shares changed hands as the company’s beta touched 1.36. With the company’s per share price at $1.41 changed hands at $0.11 or 8.46% during last session, the market valuation stood at $2.82B. DNA’s last price was a discount, traded about -80.85% 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 20.57% up since then. When we look at Ginkgo Bioworks Holdings Inc’s average trading volume, we note the 10-day average is 20.05 million shares, with the 3-month average coming to 1.30.

Ginkgo Bioworks Holdings Inc (NYSE:DNA) trade information

Instantly DNA was in green as seen at the end of in last trading. With action 11.02%, the performance over the past five days has been green. The jump to weekly highs of 1.4200 added 8.46% to the stock’s daily price. The company’s shares are showing year-to-date downside of -16.57%, with the 5-day performance at 11.02% in the green. Looking at the short shares, we see there were 236.91 million shares sold at short interest cover period of 10.44 days.

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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 -19.43% over the past 6 months, a 51.16% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 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 $42.5 million. 5 analysts are of the opinion that Ginkgo Bioworks Holdings Inc’s revenue for the quarter ending Mar 2024 will be $55.72 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 -56.80%. The estimates for the next quarter sales put growth at -31.00%.

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

If we look at who the major shareholders are, we find that insiders hold 7.05% of Ginkgo Bioworks Holdings Inc shares while 85.05% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 91.50%. There are 85.05% 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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