A share of Bionano Genomics Inc. (NASDAQ:BNGO) closed at $1.09 per share on Monday, down from $1.11 day before. While Bionano Genomics Inc. has underperformed by -1.80%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, BNGO fell by -57.75%, with highs and lows ranging from $4.35 to $1.04, whereas the simple moving average fell by -42.76% in the last 200 days.
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On January 05, 2023, Scotiabank started tracking Bionano Genomics Inc. (NASDAQ: BNGO) recommending Sector Outperform. Oppenheimer also rated BNGO shares as ‘Outperform’, setting a target price of $12 on the company’s shares in an initiating report dated July 18, 2022. BTIG Research Initiated an Buy rating on June 16, 2021, and assigned a price target of $10. Ladenburg Thalmann initiated its ‘Buy’ rating for BNGO, as published in its report on September 24, 2020. Oppenheimer’s report from April 08, 2020 suggests a price prediction of $1.50 for BNGO shares, giving the stock a ‘Outperform’ rating.
Analysis of Bionano Genomics Inc. (BNGO)
Further, the quarter-over-quarter increase in sales is 30.20%, showing a positive trend in the upcoming months.
Bionano Genomics Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of -47.10% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.60, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and BNGO is registering an average volume of 6.32M. On a monthly basis, the volatility of the stock is set at 6.93%, whereas on a weekly basis, it is put at 5.42%, with a loss of -0.91% over the past seven days. Furthermore, long-term investors anticipate a median target price of $5.10, showing growth from the present price of $1.09, which can serve as yet another indication of whether BNGO is worth investing in or should be passed over.
How Do You Analyze Bionano Genomics Inc. Shares?
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 1.82%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 27.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in BNGO shares?
The recent increase in stakes in BNGO appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in BNGO has increased by 13.20% in the first quarter. The company now owns 20,144,540 shares of the stock, with a value of $26.99 million, following the purchase of 2,349,582 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in BNGO during the first quarter, upping its stake by 1.92%. During the last quarter, the company picked up 293,683 additional shares for a total stake of worth $20.91 million, bringing number of shares owned by the company to 15,607,138.
During the first quarter, SSgA Funds Management, Inc. added a 942,369 position in BNGO. Geode Capital Management LLC purchased an additional 0.29 million shares in the last quarter, increasing its holdings by 5.51%, now holding 5.55 million shares worth $7.44 million. At the end of the first quarter, Morgan Stanley & Co. LLC decreased its BNGO holdings by -3.51% and now holds 3.08 million BNGO shares valued at $4.13 million with the lessened -0.11 million shares during the period. BNGO shares are owned by institutional investors to the tune of 27.30% at present.
