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Investor Confidence Inclines As Bionano Genomics Inc (NASDAQ: BNGO) Shares Gain $0.05

In the last trading session, 1.22 million Bionano Genomics Inc (NASDAQ:BNGO) shares changed hands as the company’s beta touched 2.38. With the company’s per share price at $1.23 changed hands at $0.05 or 4.24% during last session, the market valuation stood at $47.77M. BNGO’s last price was a discount, traded about -1290.24% off its 52-week high of $17.10. The share price had its 52-week low at $1.04, which suggests the last value was 15.45% up since then. When we look at Bionano Genomics Inc’s average trading volume, we note the 10-day average is 1.62 million shares, with the 3-month average coming to 0.67.

Bionano Genomics Inc (NASDAQ:BNGO) trade information

Instantly BNGO was in green as seen at the end of in last trading. With action 9.82%, the performance over the past five days has been green. The jump to weekly highs of 1.2400 added 4.24% to the stock’s daily price. The company’s shares are showing year-to-date downside of -34.92%, with the 5-day performance at 9.82% in the green. However, in the 30-day time frame, Bionano Genomics Inc (NASDAQ:BNGO) is -20.13% down. Looking at the short shares, we see there were 5.6 million shares sold at short interest cover period of 2.94 days.

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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 -69.33% over the past 6 months, a 52.61% in annual growth rate that is considerably higher than the industry average of 15.50%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 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 36.70% for the next quarter. Year-over-year growth is forecast to reach 29.40% 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 $10.58 million. 4 analysts are of the opinion that Bionano Genomics Inc’s revenue for the quarter ending Mar 2024 will be $9.69 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 28.80%. The estimates for the next quarter sales put growth at 30.70%.

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 2024 estimates are for Bionano Genomics Inc earnings to decrease by -43.74%.

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