Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Receives Consensus Recommendation of “Reduce” from Brokerages

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) has received a consensus rating of “Reduce” from the six research firms that are presently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $1.43.

Several analysts recently commented on the stock. The Goldman Sachs Group cut their price objective on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. BTIG Research raised their price target on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a research report on Friday, August 23rd.

Institutional Investors Weigh In On Ginkgo Bioworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Paloma Partners Management Co bought a new position in shares of Ginkgo Bioworks during the 1st quarter valued at $28,000. First Trust Direct Indexing L.P. bought a new position in Ginkgo Bioworks in the first quarter valued at about $35,000. Algert Global LLC purchased a new position in Ginkgo Bioworks in the second quarter worth about $36,000. Russell Investments Group Ltd. grew its stake in shares of Ginkgo Bioworks by 9,440.6% during the 1st quarter. Russell Investments Group Ltd. now owns 31,961 shares of the company’s stock valued at $37,000 after purchasing an additional 31,626 shares during the period. Finally, Wellington Wealth Strategies LLC. purchased a new stake in shares of Ginkgo Bioworks during the 2nd quarter valued at about $41,000. Hedge funds and other institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Stock Performance

Shares of NYSE DNA opened at $6.23 on Tuesday. The company has a 50 day simple moving average of $2.59 and a two-hundred day simple moving average of $0.93. Ginkgo Bioworks has a fifty-two week low of $5.26 and a fifty-two week high of $82.80. The company has a market capitalization of $13.77 billion, a price-to-earnings ratio of -14.15 and a beta of 1.06.

Ginkgo Bioworks (NYSE:DNA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.08). Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. The company had revenue of $56.21 million during the quarter, compared to analyst estimates of $41.46 million. On average, analysts forecast that Ginkgo Bioworks will post -12.6 earnings per share for the current fiscal year.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.