Bionano Genomics Inc (NASDAQ: BNGO) Drops -1056.86% From Highs, Now What?

During the last session, Bionano Genomics Inc (NASDAQ:BNGO)’s traded shares were 1.0 million, with the beta value of the company hitting 2.39. At the end of the trading day, the stock’s price was $1.02, reflecting an intraday gain of 2.26% or $0.02. The 52-week high for the BNGO share is $11.80, that puts it down -1056.86 from that peak though still a striking 5.88% gain since the share price plummeted to a 52-week low of $0.96. The company’s market capitalization is $55.78M, and the average intraday trading volume over the past 10 days was 1.42 million shares, and the average trade volume was 1.61 million shares over the past three months.

Bionano Genomics Inc (NASDAQ:BNGO) trade information

Bionano Genomics Inc (BNGO) registered a 2.26% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 2.26% in intraday trading to $1.02, hitting a weekly high. The stock’s 5-day price performance is -1.92%, and it has moved by -15.70% in 30 days. Based on these gigs, the overall price performance for the year is -90.81%. The short interest in Bionano Genomics Inc (NASDAQ:BNGO) is 5.47 million shares and it means that shorts have 3.66 day(s) to cover.

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Bionano Genomics Inc (BNGO) estimates and forecasts

Statistics show that Bionano Genomics Inc has outperformed its competitors in share price, compared to the industry in which it operates. Bionano Genomics Inc (BNGO) shares have gone down -65.19% during the last six months, with a year-to-date growth rate more than the industry average at 53.65% against 13.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 33.10% this quarter and then jump 46.70% in the quarter after that. In the rating firms’ projections, revenue will increase 29.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $10.72 million as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to $8.49 million by the end of Mar 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $8.21 million and $7.42 million respectively. In this case, analysts expect current quarter sales to grow by 30.50% and then jump by 14.50% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 23.59%. While earnings are projected to return 72.17% in 2024.

BNGO Dividends

Bionano Genomics Inc is due to release its next quarterly earnings between May 07 and May 13. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

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

Bionano Genomics Inc insiders own 0.48% of total outstanding shares while institutional holders control 11.37%, with the float percentage being 11.43%. Vanguard Group Inc is the largest shareholder of the company, while 82 institutions own stock in it. As of Jun 29, 2023, the company held over 1.45 million shares (or 4.11% of all shares), a total value of $0.89 million in shares.

The next largest institutional holding, with 0.61 million shares, is of Blackrock Inc.’s that is approximately 1.74% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $0.37 million.

Also, the Mutual Funds coming in first place with the largest holdings of Bionano Genomics Inc (BNGO) shares are Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 0.89 million shares. This amounts to just over 2.52 percent of the company’s overall shares, with a $0.54 million market value. The same data shows that the other fund manager holds slightly less at 0.41 million, or about 1.15% of the stock, which is worth about $0.25 million.