Bionano Genomics (NASDAQ:BNGO) Trading Down 3.2% – What’s Next?

Shares of Bionano Genomics, Inc. (NASDAQ:BNGO) dropped 3.2% during mid-day trading on Wednesday . The stock traded as low as $1.52 and last traded at $1.52. Approximately 103,656 shares changed hands during trading, a decline of 51% from the average daily volume of 211,706 shares. The stock had previously closed at $1.57.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BNGO. Weiss Ratings reiterated a “sell (e)” rating on shares of Bionano Genomics in a report on Monday. HC Wainwright restated a “buy” rating and issued a $7.00 target price (down previously from $11.00) on shares of Bionano Genomics in a research report on Monday, November 24th. Finally, Wall Street Zen raised shares of Bionano Genomics from a “sell” rating to a “hold” rating in a research note on Monday, August 25th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Bionano Genomics presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Bionano Genomics Stock Down 3.2%

The firm has a market cap of $15.47 million, a PE ratio of -0.32 and a beta of 2.33. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.82 and a current ratio of 2.12. The company’s 50-day simple moving average is $1.74 and its two-hundred day simple moving average is $2.68.

Bionano Genomics (NASDAQ:BNGO) last issued its quarterly earnings data on Thursday, November 13th. The company reported ($1.59) EPS for the quarter, beating the consensus estimate of ($1.81) by $0.22. The firm had revenue of $7.37 million during the quarter, compared to the consensus estimate of $6.91 million. Bionano Genomics had a negative net margin of 134.36% and a negative return on equity of 86.36%.

Institutional Investors Weigh In On Bionano Genomics

A hedge fund recently bought a new stake in Bionano Genomics stock. Everstar Asset Management LLC bought a new stake in shares of Bionano Genomics, Inc. (NASDAQ:BNGO) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 44,984 shares of the company’s stock, valued at approximately $126,000. Everstar Asset Management LLC owned 1.45% of Bionano Genomics as of its most recent filing with the Securities and Exchange Commission (SEC). 11.35% of the stock is currently owned by hedge funds and other institutional investors.

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.