Ginkgo Bioworks (NYSE:DNA) Trading Down 8.8% – Time to Sell?

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA)’s share price fell 8.8% on Tuesday . The stock traded as low as $8.82 and last traded at $8.7090. 202,022 shares were traded during mid-day trading, a decline of 76% from the average session volume of 828,653 shares. The stock had previously closed at $9.55.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. TD Cowen cut their price objective on Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Wall Street Zen downgraded Ginkgo Bioworks from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat, Ginkgo Bioworks presently has an average rating of “Hold” and a consensus price target of $10.50.

Ginkgo Bioworks Stock Performance

The stock has a fifty day simple moving average of $8.81 and a 200-day simple moving average of $11.14. The stock has a market cap of $542.89 million, a P/E ratio of -1.45 and a beta of 1.55.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.24) by ($0.21). The firm had revenue of $38.84 million for the quarter, compared to the consensus estimate of $38.95 million. Ginkgo Bioworks had a negative return on equity of 51.15% and a negative net margin of 188.00%. On average, research analysts anticipate that Ginkgo Bioworks Holdings, Inc. will post -10.02 earnings per share for the current year.

Institutional Trading of Ginkgo Bioworks

A number of hedge funds have recently made changes to their positions in the business. Quarry LP bought a new stake in Ginkgo Bioworks in the 3rd quarter valued at $29,000. Raymond James Financial Inc. bought a new position in Ginkgo Bioworks during the second quarter worth about $29,000. Strs Ohio acquired a new stake in shares of Ginkgo Bioworks in the third quarter valued at approximately $44,000. Ameritas Investment Partners Inc. bought a new stake in shares of Ginkgo Bioworks in the second quarter valued at approximately $45,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Ginkgo Bioworks during the 2nd quarter valued at $71,000. 78.63% of the stock is owned by institutional investors and hedge funds.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.