Ginkgo Bioworks (NYSE:DNA) Stock Rating Upgraded by Wall Street Zen

Ginkgo Bioworks (NYSE:DNA) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other analysts have also commented on the stock. TD Cowen reduced their price target on shares of Ginkgo Bioworks from $14.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Ginkgo Bioworks in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $10.50.

Ginkgo Bioworks Price Performance

Ginkgo Bioworks stock opened at $6.53 on Friday. Ginkgo Bioworks has a one year low of $5.00 and a one year high of $17.58. The business’s fifty day moving average is $8.95 and its 200 day moving average is $10.34. The stock has a market capitalization of $395.65 million, a PE ratio of -1.16 and a beta of 1.58.

Ginkgo Bioworks (NYSE:DNA) last issued its earnings results on Thursday, February 26th. The company reported ($1.42) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.80) by $0.38. The business had revenue of $33.40 million during the quarter, compared to analyst estimates of $37.57 million. Ginkgo Bioworks had a negative return on equity of 52.82% and a negative net margin of 183.81%. As a group, sell-side analysts expect that Ginkgo Bioworks will post -10.02 EPS for the current fiscal year.

Hedge Funds Weigh In On Ginkgo Bioworks

Several institutional investors have recently made changes to their positions in the business. Quarry LP bought a new stake in Ginkgo Bioworks during the third quarter valued at approximately $29,000. Raymond James Financial Inc. bought a new position in Ginkgo Bioworks in the second quarter worth approximately $29,000. Strategic Advocates LLC raised its position in Ginkgo Bioworks by 808.9% in the fourth quarter. Strategic Advocates LLC now owns 4,381 shares of the company’s stock worth $36,000 after acquiring an additional 3,899 shares during the period. Strs Ohio purchased a new position in shares of Ginkgo Bioworks during the 3rd quarter worth $44,000. Finally, Ameritas Investment Partners Inc. purchased a new position in shares of Ginkgo Bioworks during the 2nd quarter worth $45,000. Institutional investors own 78.63% of the company’s stock.

Ginkgo Bioworks Company Profile

Ginkgo Bioworks, Inc is a synthetic biology company that designs custom microbes for customers across a range of industries. Utilizing a proprietary organism foundry platform, the company engineers cells to produce high-value chemicals, enzymes, and other biological materials. By integrating automation, data analytics and machine learning, Ginkgo Bioworks seeks to accelerate the development of biologically derived solutions at industrial scale.

The company’s services span the entire development cycle, from genetic design and strain optimization to fermentation and downstream processing.