Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) Short Interest Up 86.2% in August

Ginkgo Bioworks Holdings, Inc. (NYSE:DNA) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 7,150,000 shares, an increase of 86.2% from the August 15th total of 3,840,000 shares. Based on an average daily trading volume, of 1,590,000 shares, the short-interest ratio is presently 4.5 days. Approximately 20.2% of the company’s stock are short sold.

Ginkgo Bioworks Price Performance

Shares of Ginkgo Bioworks stock traded up $0.05 during trading on Friday, hitting $6.32. The stock had a trading volume of 2,127,264 shares, compared to its average volume of 1,120,506. The business has a fifty day moving average of $2.34 and a two-hundred day moving average of $0.83. The firm has a market cap of $351.27 million, a P/E ratio of -14.30 and a beta of 1.06. Ginkgo Bioworks has a fifty-two week low of $5.26 and a fifty-two week high of $83.20.

Ginkgo Bioworks (NYSE:DNA) last released its earnings results on Thursday, August 8th. The company reported ($0.08) EPS for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $56.21 million during the quarter, compared to analyst estimates of $41.46 million. Ginkgo Bioworks had a negative net margin of 486.98% and a negative return on equity of 63.09%. As a group, research analysts forecast that Ginkgo Bioworks will post -12.6 earnings per share for the current year.

Institutional Investors Weigh In On Ginkgo Bioworks

A number of large investors have recently made changes to their positions in the company. Treasurer of the State of North Carolina raised its position in Ginkgo Bioworks by 2.3% during the fourth quarter. Treasurer of the State of North Carolina now owns 689,787 shares of the company’s stock valued at $1,166,000 after acquiring an additional 15,540 shares in the last quarter. National Bank of Canada FI boosted its holdings in Ginkgo Bioworks by 142.0% in the fourth quarter. National Bank of Canada FI now owns 30,672 shares of the company’s stock worth $51,000 after purchasing an additional 18,000 shares in the last quarter. Principal Financial Group Inc. increased its position in Ginkgo Bioworks by 20.2% during the first quarter. Principal Financial Group Inc. now owns 132,302 shares of the company’s stock worth $153,000 after buying an additional 22,201 shares during the last quarter. Paloma Partners Management Co acquired a new stake in shares of Ginkgo Bioworks in the first quarter worth about $28,000. Finally, Swiss National Bank boosted its stake in shares of Ginkgo Bioworks by 1.4% during the 1st quarter. Swiss National Bank now owns 2,078,500 shares of the company’s stock worth $2,411,000 after acquiring an additional 27,700 shares in the last quarter. Institutional investors and hedge funds own 78.63% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BTIG Research lifted their price objective on shares of Ginkgo Bioworks from $0.20 to $7.00 and gave the stock a “sell” rating in a report on Friday, August 23rd. The Goldman Sachs Group dropped their price objective on shares of Ginkgo Bioworks from $0.02 to $0.01 and set a “sell” rating on the stock in a research note on Tuesday, July 9th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Ginkgo Bioworks presently has a consensus rating of “Hold” and a consensus price target of $1.43.

About Ginkgo Bioworks

Ginkgo Bioworks Holdings, Inc, together with its subsidiaries, develops platform for cell programming in the United States. Its platform is used to program cells to enable biological production of products, such as novel therapeutics, food ingredients, and chemicals derived from petroleum. It serves pharma and biotech, agriculture, industrial and environment, food and nutrition, consumer and technology, and government and defense industries.