Ginkgo Bioworks (NYSE:DNA) Sees Unusually-High Trading Volume

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) saw unusually-high trading volume on Monday . Approximately 656,780 shares were traded during trading, a decline of 41% from the previous session’s volume of 1,116,573 shares.The stock last traded at $6.06 and had previously closed at $6.32.

Wall Street Analyst Weigh In

DNA has been the topic of several recent research reports. BTIG Research upped their price target on Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a research note on Friday, August 23rd. The Goldman Sachs Group dropped their price objective on Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a research report on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $1.43.

Ginkgo Bioworks Stock Performance

The firm has a market cap of $16.32 billion, a P/E ratio of -16.84 and a beta of 1.06. The business’s 50-day simple moving average is $2.73 and its 200 day simple moving average is $0.97.

Ginkgo Bioworks (NYSE:DNA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, hitting the consensus estimate 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. As a group, equities research analysts expect that Ginkgo Bioworks Holdings, Inc. will post -12.6 EPS for the current year.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors have recently made changes to their positions in DNA. Paloma Partners Management Co bought a new position in Ginkgo Bioworks in the first quarter worth approximately $28,000. Pine Valley Investments Ltd Liability Co purchased a new stake in shares of Ginkgo Bioworks in the 4th quarter worth $50,000. First Trust Direct Indexing L.P. bought a new position in Ginkgo Bioworks in the 1st quarter worth $35,000. Russell Investments Group Ltd. lifted its position in Ginkgo Bioworks by 9,440.6% during the first 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 in the last quarter. Finally, Smith Salley Wealth Management grew its holdings in Ginkgo Bioworks by 125.0% during the first quarter. Smith Salley Wealth Management now owns 54,000 shares of the company’s stock valued at $63,000 after purchasing an additional 30,000 shares during the period. Institutional investors own 78.63% of the company’s stock.

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.