Bionano Genomics Inc. (NASDAQ: BNGO) stock fell -7.69% on Monday to $3.00 against a previous-day closing price of $3.25. With 0.74 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.11 million shares. During the session, the Medical Instruments & Supplies company that operates in wider Healthcare sector, reached to the highest price of $3.2400 whereas the lowest price it dropped to was $2.9900. The 52-week range on BNGO shows that it touched its highest point at $30.10 and its lowest point at $2.95 during that stretch. It currently has a 1-year price target of $20.20. Beta for the stock currently stands at 2.20.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BNGO was down-trending over the past week, with a drop of -14.04%, but this was down by -1.32% over a month. Three-month performance dropped to -57.74% while six-month performance fell -73.45%. The stock lost -87.23% in the past year, while it has lost -79.45% so far this year. A look at the trailing 12-month EPS for BNGO yields -4.87 with Next year EPS estimates of -3.25. For the next quarter, that number is -0.94. This implies an EPS growth rate of -75.20% for this year and 18.50% for next year.
Float and Shares Shorts:
At present, 35.35 million BNGO shares are outstanding with a float of 35.12 million shares on hand for trading. On Aug 30, 2023, short shares totaled 4.77 million, which was 13.50% higher than short shares on Jul 30, 2023. In addition to Dr. Robert Erik Holmlin M.B.A., Ph.D. as the firm’s Pres, CEO, Sec. & Director, Mr. Mark Oldakowski serves as its Chief Operating Officer.
Institutional Ownership:
Other institutions hold 9.14% of BNGO, in contrast to 7.99% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in BNGO with 4.70% of the stake, The Vanguard Group, Inc. holds 1,441,299 shares worth 1,441,299. A second-largest stockholder of BNGO, BlackRock Fund Advisors, holds 609,582 shares, controlling over 1.99% of the firm’s shares. Qube Research & Technologies Ltd. is the third largest shareholder in BNGO, holding 393,951 shares or 1.28% stake. With a 2.90% stake in BNGO, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 889,851 shares are owned by the mutual fund manager. The Vanguard Extended Market Index Fu, which owns about 1.38% of BNGO stock, is the second-largest Mutual Fund holder. It holds 422,140 shares valued at 1.63 million. SPDR S&P Kensho New Economies Com holds 0.84% of the stake in BNGO, owning 258,119 shares worth 1.0 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, BNGO reported revenue of $6.67M and operating income of -$32.08M. The EBITDA in the recently reported quarter was -$29.69M and diluted EPS was -$11.30.
Analysts Ratings:
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BNGO since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BNGO analysts setting a high price target of $32.00 and a low target of $9.00, the average target price over the next 12 months is $17.75. Based on these targets, BNGO could surge 966.67% to reach the target high and rise by 200.0% to reach the target low. Reaching the average price target will result in a growth of 491.67% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded BNGO stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 7 while that of sell transactions has risen to 2 over the past year. The total number of shares bought during that period was 775,789 while 91,637 shares were sold.
