Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Given Consensus Recommendation of “Reduce” by Analysts

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

Several equities analysts have weighed in on DNA shares. The Goldman Sachs Group lowered their price target on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a report on Tuesday, July 9th. BTIG Research lifted their target price on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the company a “sell” rating in a research note on Friday, August 23rd.

Ginkgo Bioworks Price Performance

NYSE:DNA opened at $6.23 on Tuesday. Ginkgo Bioworks has a one year low of $5.26 and a one year high of $82.80. The business has a fifty day moving average price of $2.59 and a 200-day moving average price of $0.93. The firm 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) EPS for the quarter, hitting the consensus estimate of ($0.08). The firm had revenue of $56.21 million for the quarter, compared to the consensus estimate of $41.46 million. Ginkgo Bioworks had a negative return on equity of 63.09% and a negative net margin of 486.98%. On average, equities research analysts expect that Ginkgo Bioworks will post -12.6 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors have recently bought and sold shares of the stock. Treasurer of the State of North Carolina lifted its stake in Ginkgo Bioworks by 2.3% in the 4th quarter. Treasurer of the State of North Carolina now owns 689,787 shares of the company’s stock worth $1,166,000 after purchasing an additional 15,540 shares in the last quarter. National Bank of Canada FI boosted its stake in Ginkgo Bioworks by 142.0% during the fourth quarter. National Bank of Canada FI now owns 30,672 shares of the company’s stock valued at $51,000 after buying an additional 18,000 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Ginkgo Bioworks by 20.2% during the 1st quarter. Principal Financial Group Inc. now owns 132,302 shares of the company’s stock valued at $153,000 after buying an additional 22,201 shares in the last quarter. Paloma Partners Management Co bought a new stake in Ginkgo Bioworks in the 1st quarter worth approximately $28,000. Finally, Swiss National Bank raised its holdings in shares of Ginkgo Bioworks by 1.4% during the 1st quarter. Swiss National Bank now owns 2,078,500 shares of the company’s stock worth $2,411,000 after acquiring an additional 27,700 shares in the last quarter. 78.63% of the stock is owned by hedge funds and other institutional investors.

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.