A Business Review Of Bionano Genomics Inc (NASDAQ: BNGO) And Growth Forecast

In the last trading session, 1.71 million shares of the Bionano Genomics Inc (NASDAQ:BNGO) were traded, and its beta was 2.34. Most recently the company’s share price was $1.11, and it changed around $0.02 or 1.83% from the last close, which brings the market valuation of the company to $60.71M. BNGO currently trades at a discount to its 52-week high of $11.80, offering almost -963.06% off that amount. The share price’s 52-week low was $1.00, which indicates that the current value has risen by an impressive 9.91% since then. We note from Bionano Genomics Inc’s average daily trading volume that its 10-day average is 1.16 million shares, with the 3-month average coming to 1.69 million.

Bionano Genomics Inc stock received a consensus recommendation rating of Overweight, based on a mean score of 1.50. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 1 recommended BNGO as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Bionano Genomics Inc is expected to report earnings per share of -$0.87 for the current quarter.

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Bionano Genomics Inc (NASDAQ:BNGO) trade information

Instantly BNGO has showed a green trend with a performance of 1.83% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -41.27% year-to-date, but still up 4.72% over the last five days. On the other hand, Bionano Genomics Inc (NASDAQ:BNGO) is -12.60% down in the 30-day period. We can see from the shorts that 5.47 million shares have been sold at a short interest cover period of 3.66 day(s).

The consensus price target as assigned by Wall Street analysts is $262.5, which translates to bulls needing to increase their stock price by 99.58% from its current value. Analyst projections state that BNGO is forecast to be at a low of $175 and a high of $350.

Bionano Genomics Inc (BNGO) estimates and forecasts

Bionano Genomics Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -62.12 percent over the past six months and at a 53.65% annual growth rate that is well above the industry average of 13.00%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 33.10% in revenue this quarter, and will report an increase of 46.70% in the next quarter. The year-over-year growth rate is expected to be 29.90%, up from the previous year.

Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $10.72 million in revenue for the current quarter. 4 analysts expect Bionano Genomics Inc to make $8.49 million in revenue for the quarter ending Mar 2024. The company’s sales for the same quarters a year ago were $8.21 million and $7.42 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 30.50%. Forecasts for the next quarter put sales growth at 14.50%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 23.59%.

BNGO Dividends

Bionano Genomics Inc’s next quarterly earnings report is expected to be released around May 07 and May 13.

Bionano Genomics Inc (NASDAQ:BNGO)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.48% of Bionano Genomics Inc shares, and 11.37% of them are in the hands of institutional investors. The stock currently has a share float of 11.43%. Bionano Genomics Inc stock is held by 82 institutions, with Vanguard Group Inc being the largest institutional investor. By Dec 30, 2023, it held 3.46% of the shares, which is about 1.89 million shares worth $2.1 million.

GMT Capital Corp, with 0.97% or 0.53 million shares worth $0.59 million as of Dec 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Dec 30, 2023. The former held 0.97 million shares worth $1.08 million, making up 1.77% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.51 million shares worth around $0.56 million, which represents about 0.92% of the total shares outstanding.