Ginkgo Bioworks (NYSE:DNA) Raised to Hold at Zacks Research

Ginkgo Bioworks (NYSE:DNA) was upgraded by stock analysts at Zacks Research to a “hold” rating in a research note issued on Monday,Zacks.com reports.

DNA has been the topic of a number of other research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ginkgo Bioworks in a research note on Friday, July 17th. TD Cowen cut Ginkgo Bioworks from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $12.00 to $9.00 in a research report on Friday, August 7th. Finally, Wall Street Zen raised shares of Ginkgo Bioworks from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $7.00.

Ginkgo Bioworks Stock Down 6.0%

Shares of NYSE DNA opened at $6.50 on Monday. The stock has a market capitalization of $438.05 million, a price-to-earnings ratio of -1.30 and a beta of 1.78. Ginkgo Bioworks has a 52 week low of $5.37 and a 52 week high of $17.58. The firm has a 50-day moving average price of $8.56 and a 200 day moving average price of $8.18.

Ginkgo Bioworks (NYSE:DNA) last posted its earnings results on Wednesday, August 5th. The company reported ($0.75) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.15. The company had revenue of $20.16 million for the quarter, compared to the consensus estimate of $24.05 million. Ginkgo Bioworks had a negative return on equity of 60.27% and a negative net margin of 259.96%. Equities research analysts expect that Ginkgo Bioworks will post -3.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Ginkgo Bioworks

Large investors have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Ginkgo Bioworks during the 3rd quarter valued at $29,000. Raymond James Financial Inc. acquired a new stake in Ginkgo Bioworks in the 2nd quarter valued at $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 valued at $36,000 after purchasing an additional 3,899 shares during the period. Daiwa Securities Group Inc. purchased a new position in Ginkgo Bioworks in the second quarter valued at about $71,000. Finally, Western Wealth Management LLC acquired a new position in shares of Ginkgo Bioworks during the fourth quarter worth about $83,000. Institutional investors and hedge funds 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.