Short Interest in Bionano Genomics, Inc. (NASDAQ:BNGO) Declines By 13.0%

Bionano Genomics, Inc. (NASDAQ:BNGO) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 3,680,000 shares, a decline of 13.0% from the August 15th total of 4,230,000 shares. Approximately 5.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,750,000 shares, the days-to-cover ratio is presently 2.1 days.

Wall Street Analysts Forecast Growth

BNGO has been the topic of several analyst reports. Scotiabank reaffirmed a “sector perform” rating and set a $1.00 price target (down previously from $6.00) on shares of Bionano Genomics in a research report on Wednesday, August 28th. BTIG Research lowered shares of Bionano Genomics from a “buy” rating to a “neutral” rating in a research report on Tuesday, September 10th.

Institutional Trading of Bionano Genomics

Institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in Bionano Genomics in the 1st quarter valued at approximately $36,000. Cantor Fitzgerald L. P. grew its stake in shares of Bionano Genomics by 22.2% during the fourth quarter. Cantor Fitzgerald L. P. now owns 55,000 shares of the company’s stock worth $104,000 after purchasing an additional 10,000 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Bionano Genomics by 123.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 70,370 shares of the company’s stock worth $79,000 after purchasing an additional 38,900 shares in the last quarter. Quadrature Capital Ltd acquired a new position in shares of Bionano Genomics during the fourth quarter worth $209,000. Finally, Cetera Advisors LLC purchased a new stake in Bionano Genomics in the first quarter valued at $163,000. Institutional investors and hedge funds own 11.35% of the company’s stock.

Bionano Genomics Trading Down 4.8 %

Shares of BNGO stock traded down $0.02 during trading on Wednesday, hitting $0.40. 965,066 shares of the stock traded hands, compared to its average volume of 1,573,416. The firm has a market capitalization of $26.76 million, a P/E ratio of -0.07 and a beta of 2.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.63 and a quick ratio of 1.11. The firm’s fifty day moving average price is $0.53 and its 200-day moving average price is $0.79. Bionano Genomics has a 52-week low of $0.31 and a 52-week high of $3.13.

Bionano Genomics (NASDAQ:BNGO) last posted its earnings results on Wednesday, August 7th. The company reported ($0.24) earnings per share for the quarter. Bionano Genomics had a negative net margin of 557.98% and a negative return on equity of 151.27%. The company had revenue of $7.77 million during the quarter. As a group, research analysts forecast that Bionano Genomics will post -1.59 earnings per share for the current fiscal year.

About Bionano Genomics

Bionano Genomics, Inc provides genome analysis software that enables genomics labs to analyze and interpret data across a range of platforms to generate informative data visualizations for streamlined and simple reporting of causal variants. It offers Saphyr, a sample-to-result solution for structural variation analysis by optical genome mapping for genome analysis and understanding of genetic variation and function; Saphyr instrument, a single-molecule imager; Saphyr Chip, a consumable that packages the nanochannel arrays for DNA linearization; and Bionano Prep Kits and DNA labeling kits, which provide the reagents and protocols for extracting and labeling ultra-high molecular weight DNA.